Damage to the economy

How Trump’s trade war is affecting our industry

The EU exports goods worth 500 billion euros to the USA, which would make tariffs more expensive.(Bild: M. Johannsen)

Tariffs are Donald Trump's "favorite word in the dictionary" - and at the weekend, the US President imposed some on products from Mexico, Canada and China and in some cases suspended them again. Tariffs on products from the EU are also set to be imposed "fairly soon" - with drastic consequences for domestic industry. An expert explains what we are now facing.

Trump feels unfairly treated by the EU because Europeans export more goods, such as cars, to America than they import from there. Wifo economist Harald Oberhofer explains why Trump's calculation doesn't add up. And he analyzes why tariffs would hit Austrian industry hard.