The latest round of new tariffs started by Donald Trump will hit almost every industry around the world, posing an unprecedented challenge for businesses that are already struggling with poor demand and inflationary pressures.
Industry directors warn that the biggest victim will be US consumers who will pay more to buy everything from Adidas to Modelo, the country’s best -selling beer.
The United States has discovered a 10 % basic tax with additional tariffs up to 50 % of more trading partners, including the EU, Japan, Vietnam and Cambodia.
Car
Foreign car manufacturers face a 25 percent tariff on all vehicles collected outside the United States. Vehicles and parts of cars from Mexico and Canada in accordance with the US-Mexico-Canada Trade Agreement in 2020 (USK) will remain exempt from tariffs.
A wide range of car parts will also undergo 25 % of May 3. Christoph Perilate, chief executive of French car supplier Valleo, said half of the company’s customers had already agreed to a full price increase to absorb tariff costs.
While carmakers were spared the additional “reciprocal” tariffs for US trade partners, UBS warned that taxes would still increase the price of raw materials and electronics parts, increasing the cost of vehicles.
Consultant Anderson economic group expects tariffs to add up to $ 5,000 to US cars facing the lowest tariffs and as much as $ 20,000 for some imported models, leading to $ 30 billion in US consumers in the first year of tariff implementation.
American carmakers are better set, but even Generaleral Motors and Ford will be affected as they are exporting components from outside the United States. Bernstein estimates almost 10 % suitable for GM revenue for tariffs.
Epip owner Stelantis also said he would temporarily stop producing in his plants in Canada and Mexico.
The biggest losers include German carmakers BMW and Mercedes-Benz, as many of the parts used in their US-sold vehicles come from Europe. Meanwhile, Subaru imports all power supply trains for its US vehicles from Japan.
Kana Inagaki in London, Claire Bushay in Chicago, Patricia Nilsson in Frankfurt and Ian Johnnonston in Paris
Retail and Consumer Products
Leading brands for footwear and clothing will be affected by the new tariff regime for Southeast Asia countries.
Many retailers have moved away from China in the production of centers in Vietnam, Cambodia and Indonesia, which are now subject to penalties up to 49 %.
Shares in Danish jewelry maker Pandora fell 12 percent on Thursday, as investors quarreled over the effect of tariffs on his production facilities in the stubborn Thailand. The group estimates that the price of the tariffs is DKR1.2BN per year, with an impact on the rest of 2025, including mitigation measures, totaling the DKR700M.
The United States has also confirmed the end of shipments without duty for low value packages from the mainland China and Hong Kong to hit e-commerce companies, such as Sheen and Temu. The exemption “De Minimis” on packages worth under $ 800 will end on May 2.
Shares in retailers with supply chains in Southeast Asia have fallen, with groups of sportswear such as Nike, Adidas and Puma, by about 10 %. Shares in the Swedish retail group H&M, which largely sources their products from China and Bangladesh, declined by 4.5 %.
Laura Onita in London, Florian Miller in Frankfurt and Richard Millne in Oslo
Wine and ghosts
European groups that rely on exports to the United States will be the biggest losers. Remi who has the highest exposure, with 38 % of sales made in North America in 2024, almost all of them come from the EU.
Trump’s move to expand aluminum tariffs to include all imported canned beer and empty cans bad for Mexican beer. Constellation brands import wildly popular model, Corona and Picardi beers on the North American market.
Mexican beer makes up about 85 % of the group’s net sales, a 25 % shot to operating revenue, according to analysts.
Companies like Diagego and Campari, which sell tequila and Canadian whiskey, breathed a sigh of relief after the White House released products in accordance with the agreement with USK. Actions in Diagego, whose US businesses are very distorted towards Tequila and Canadian whiskey, rose on Thursday.
Madeleine’s speed in London
Luxury
Buyers in the United States, the largest luxury market, should expect the costs of their bags and the fashion of finished clothing to increase, as companies raise prices to compensate for Trump’s EU and Switzerland tariffs where goods are made.
On average, luxury brands will need to raise prices by 6 % in the United States to make up for the impact of tariffs, or otherwise face 7 % drop in their earnings before interest and taxes, UBS said.
However, the industry has a price power, which should protect it from the worst impact. Rich Americans are also likely to double one of their favorite passes: shopping abroad.
Greater concern will be a hit on consumer’s global confidence at a time when the luxury industry is already having fun on the rage of Kovid-19 pandemic boom. Some companies, such as Feragamo, LVMF and Cartier owner Richemont, are more exposed to America than others, according to Barclays.
“What we need to worry about … is (if) new US policies are causing a sharp global recession and a stock market correction. This would be the scenario of the black swan,” Luke Salka said in Bernstein.
Adrien class in Paris
Farm
Pharmaceuticals have been released from tariffs so far, although Trump has signaled that he can take action focused on the sector later. Production will be “pulled back” to the United States, he said on Wednesday or faced a “big tax”.
Mixed messages meant some actions, including Astrazeneka, GSK and Novartis, rose on Thursday, while others, like Nordisk and Roche, fell.
Drug manufacturers hoped that the World Trade Organization Agreement in 1994, with the exception of tariffs and other duties, would protect them. But in recent weeks, some, including Eli Lily and Nsonson and Nsonson, have announced major investment in the United States over tariff problems.
The generic industry can be the worst hit by potential tariffs due to its low margins. Effeeferis analysts believe the sector could be spared because it is “a significant contribution to reducing the cost of drugs in the United States”, and Trump seemed focused on branded drug producers who moved production to Ireland due to its lower corporation tax rate.
Hannah Kuchler in London
Aviation
Trump’s tariffs are expected to make flying more expensive for passengers, as air companies go to higher production costs.
About 20 % of the materials used to make Boeing aircraft are imported and “tariffs will increase the cost of making aircraft,” the partners’ analysts said for vertical research.
European Airbus aircraft maker has built a line of assembly in the United States, but will face higher import costs. Prices are likely to be transferred to airlines and, after all, customers.
Although the Airbus will be able to transfer the costs of its customers, the company was still “vulnerable” because of the size and complexity of its supply chain, analysts in Barclay said.
Philip Georgiadis in London
Logistics
Delivery and logistics groups, many of which made great profits during Kovid’s pandemic disruption, hope that the consequences of tariffs will offer the opportunity.
Logistics directors said customers pay a premium to fly goods to the United States and Storage products in warehouses in the US. Many logistics businesses also provide consulting services and customs services, which are in high demand, as customers are in a hurry to understand all the new costs and the border processes they will face.
Maines, a leading container delivery group, said he expects “some orders to rush the aircraft” before Trump’s latest tariffs come into force in the coming days.
Outside this rush, Trump’s decision to remove De Minimis tax exemption for low -cost imports Increased by increased demand from Chinese retailers It benefits from this release.
The fears of falling trade have reached the prices of the Danish group AP Miller-Maersk and Germany Hapag-Loyd, two of the largest containers with containers. Shares have fallen in some of the largest international cargo handling companies, including the owner of DHL Deutsche Post, Cuene+Nagel and DSV, have also fallen.
Oliver tells London
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