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This article has been translated by Artificial Intelligence (AI). The news agency is not responsible for the content of the translated article. The original was published by Belga.

American import tariffs could cost Belgium 12 billion euros

by AI | 28.Feb 2025 | Europe in brief AI

The import tariffs that U.S. President Donald Trump wants to impose on products from the European Union could cost the Belgian economy up to 12 billion euros.

American President Donald Trump announced new import tariffs on European products (Photo Eva Marie UZCATEGUI / AFP)

Trump indicated this week that the United States will “soon” impose import tariffs of 25 percent on goods from the European Union. For an export country like Belgium, this threatens to be a heavy blow. “We estimate the potential impact to be a loss of up to 2 percent of our gross domestic product (GDP). That equates to 12 billion euros,” said the Flemish business organization Voka on Thursday.

The US is the fourth most important export country for Belgium. Total exports amounted to 33.3 billion euros in 2023. The largest share of Belgian exports was for chemical products, including pharmaceutical products (56.9 percent), followed by machines and equipment (10.5 percent), transport equipment (8.4 percent), plastics (5 percent), and mineral products (4 percent).

Trump’s threats “should seriously concern us as an exporting nation,” responded Prime Minister Bart De Wever. “It is clear that Europe will need to respond quickly and clearly if necessary.”

The European Commission has already announced that it will respond “resolutely and immediately” to increased American tariffs. However, it is waiting for more details to formulate a precise response. Meanwhile, negotiations with Washington are still ongoing to avoid a trade war.