Which export sectors of the eurozone are affected by Trump duties – the blow for automakers

By Akis Tsoufi

In 2024 EU exports to the US exceeded half a trillion. EUR, in fact, they were € 531.6 billion. 20.3% of Union exports are directed to the US. With 20%duties, the first quantification of the impact of the US president’s decision, an immediate blow of 106.3 billion euros, easily quantifying the impact of the US President’s decision.

But which countries in the eurozone are those with the largest export activity on the other side of the Atlantic and therefore those who will be sufficient to be the biggest blow to the duties imposed by US President Donald Trump?

Greece

Greece with exports of 2.4 billion euros is in 17th place from 27. In total, the blow will be manageable, according to government sources, while a strong blow is expected to receive some sectors, and especially those of agri -food products, oil, slice, olives and wine.

As far as the whole Union is concerned, the branches that have the largest exposure to Trump duties are:

Especially in car exports to the US, more than 70% (out of 757,654 cars sold last year) comes from Germany’s 3 major German automakers, VW, Mercedes and BMW, which direct to the United States from 15% to 25% of their exports. In export value the rankings are as follows:

Although Germany will be seriously hit, the first estimates are talking about 11 billion euros with one in two cars leaving for America (450,000 to the US, 420,000 to the rest of the world last year), Slovakia will receive even greater as 73.2% of its exports.

Overall, the European automaker has more than 2,000 factories on the other side of the Atlantic, employing about 156,000 workers. They even cover about 50% of their sales in America from their production there.

On the contrary, brands like Porsche and Ferrari do not produce America but send from Europe the cars selling to the US. In 2024 the first sold 76,000 cars and the second 3,450.

In fact, Porsche and Ferrari, according to ING data, are sending about 1/4 of their production to the US. Specifically:

Everyone agrees that automakers cannot absorb all the cost of duties and necessarily a part or all will be passed on to US consumers. It still cannot be calculated how much their price will rise, but it is estimated that the increase will be very important.

It is recalled that by April 2, the duties were only 2.5%. 25% duties in cars and 25% to aluminum and steel must now be added.