America News Agency

The US president is likely to implement a series of tariffs on Wednesday, dubbed “Liberation Day,” varying from country to country. He also said last week that a 25% tax on cars sent to the US would take effect the following day.

Many European companies are expected to take a significant hit. Germany’s car manufacturers and France’s luxury goods and wine, champagne, and liquor producers—some earning up to 20% of their revenues from exports to the US—could suffer severely.

The EU has pledged a “timely, robust, and calibrated” response to Washington’s plans, which experts predict will reduce production, raise prices, and spark a trade war.

After Trump dismissed hopes that the tariffs would only target countries with the largest trade imbalances—claiming trade partners have cheated the US—global markets and the dollar dropped on Monday.

A YouGov poll conducted in Denmark, France, Germany, Italy, Spain, Sweden, and the UK found overwhelming support for retaliatory tariffs on US imports, from 79% in Denmark to 56% in Italy.

In Germany, where carmakers like Porsche, BMW, and Mercedes face major profit losses, and in France, where wine and liquor exports to the US total around €4 billion annually, 68% supported retaliation.

Across all seven countries, despite anticipated harm to national economies, respondents preferred a tit-for-tat response. In Germany, 75% expected a “very” or “moderate” level of impact.

This view was shared by 71% in Spain, 70% in France and Italy, 62% in Sweden, 60% in the UK, and half of Danish respondents in the second and third weeks of March.