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1 week ago | 
bruegel.org | Niclas Poitiers |Rebecca Christie |Uri Dadush |Ignacio Garcia Bercero
President Donald Trump’s tariffs clearly pose a profound challenge to the global rules-based trading system, marking a huge shift after decades of multilateral trade liberalisation that had left tariffs at near-historic lows. The economic impact on the European Union is much less clear, however.
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1 week ago | 
bruegel.org | Ignacio Garcia Bercero |Rebecca Christie |Uri Dadush |Niclas Poitiers
After two weeks of chaos, the tariff policy of the United States under President Donald Trump appears to be converging around three elements: 1) a baseline import surcharge of 10%, with the main purpose of raising revenue; 2) protective tariffs of 25% on steel, aluminium, cars and car parts, which are likely to be extended to pharmaceuticals and semiconductors; 3) special treatment for China, although it is unclear whether the US will maintain its current prohibitive tariffs (at time of...
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2 weeks ago | 
bruegel.org | Ignacio Garcia Bercero |Rebecca Christie |Uri Dadush |Niclas Poitiers
President Trump’s tariffs are an economic policy mistake of historical proportions, causing more harm to the United States than to almost all of its trading partners. Even with the pause announced on 9 April on big tariff hikes (except for China), the US tariff on the European Union remains at a very high 10%, and higher for cars, steel and aluminium. The EU has already agreed countermeasures on the US steel and aluminium tariffs and continues to weigh its options.
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3 weeks ago | 
bruegel.org | Uri Dadush |Rebecca Christie |Ignacio Garcia Bercero |Niclas Poitiers
Following President Trump’s ‘Liberation Day’ announcement of a 20% tariff on European Union imports, the EU must respond. It seems unlikely that the EU will be able to negotiate a lower tariff. Trump needs hundreds of billions of dollars in tariff revenue to cover extended and increased income tax cuts – a signature feature of the Republican agenda. He believes high tariffs will revitalise investment in US manufacturing.
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1 month ago | 
bruegel.org | Alexandr Burilkov |Guntram B. Wolff |Rebecca Christie |Niclas Poitiers
In this episode of The Sound of Economics, we examine the rapidly evolving geopolitical landscape in Europe, driven by the ongoing war in Ukraine, shifting alliances, and the changing role of the United States in NATO. Host Rebecca Christie is joined by Bruegel experts Heather Grabbe and Guntram B. Wolff to discuss the critical questions facing European policymakers: What level of financial and military support is the EU prepared to provide to Ukraine?
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2 months ago | 
bruegel.org | Rebecca Christie |Niclas Poitiers
Ahead of Germany’s federal elections on February 23 2025, Rebecca Christie invites Jens Suedekum and Niclas Poitiers to take a look at the country’s economic situation, what needs to be fixed and how. This election may decide which fundamental economic strategy Germany pursues for the next years, with implications for Europe and the world. They discuss why it has been so hard for Berlin to change and how the next crisis may require new tools. Note: This podcast was recorded in mid January 2025.
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2 months ago | 
cepa.org | Niclas Poitiers |Pauline Weil |Christopher Cytera |James Thomson
Under the Joe Biden administration, Europe and the US shared the common aim of fighting climate change and de-risking from China. Biden rejoined the Paris climate agreement. He wielded tariffs and subsidies to sell climate policies to American voters as rebuilding US industry. Europe pursued an ambitious green policy and became wary of Beijing’s attempt to dominate green industries. Admittedly, the allies embraced different approaches.
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Nov 7, 2024 | 
bruegel.org | Marek Dabrowski |Luca Léry Moffat |Niclas Poitiers |Simone Tagliapietra
When Dwight D. Eisenhower said “plans are worthless, but planning is everything”, he meant that plans often prove useless when they are overtaken by events. But, he added, “if you haven't been planning you can't start to work, intelligently at least”.
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Sep 9, 2024 | 
bruegel.org | Guntram B. Wolff |Niclas Poitiers |Simone Tagliapietra
A report on the future of European competitiveness, prepared by former Italian prime minister Mario Draghi and long awaited in Brussels, is finally out. It is expected to significantly shape the work programme for the next five years of the European Commission, led by Ursula von der Leyen, who commissioned the report. The report is a masterplan for a new European industrial strategy. Draghi sees decarbonisation at its core.
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Jun 20, 2024 | 
bruegel.org | Niclas Poitiers
In October 2023, the European Union launched an investigation into whether Chinese electric vehicle (EV) manufacturers were receiving unfair subsidies which give them an advantage in the market. In June 2024, the European Commission announced the preliminary conclusion that it would levy additional tariffs of between 17.4ؘ–38% on Chinese electric vehicles (EVs). This would be placed on top of an existing 10% import duty.
