The European countries that will be more affected by the increase in US duties will be Ireland, Slovakia, Germany, Hungary, Italy and Austria, according to Moody’s ratings. This assessment is based on the percentage that exports to the US represent for each country’s economy. “The impact of the new duties” announced by US President Donald Trump “vary significantly in line with the areas,” Moody’s warns. In the European Union, the sectors of machinery and alcoholic beverages “will be more affected because more than one fifth of the exports of these products is intended for the United States,” the house explains in a note. “The European Union’s response will determine the overall impact on economies,” Moody’s explains, depending on whether it will impose other duties or not. The EU will try to negotiate with Washington the reduction of the announced duties. But it is likely to respond by imposing duties […]
Source: News Beast
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
