Impact of US Tariffs on EU Corporate Sectors

According to a recent report by Fitch Ratings, the tariffs introduced by the Trump administration are set to significantly weaken revenue and profitability growth across various corporate sectors in Europe. The chemical, automotive, and hardware industries are expected to bear the brunt of these measures.

Challenges Ahead for EU Companies

"While many EU-based diversified industrial companies have substantial manufacturing operations in the US, their exports remain considerable and will be adversely affected by the tariffs. This includes intermediate parts sourced from outside the US," Fitch highlighted. The report also warns of heightened competition from Chinese firms in non-US markets, adding another layer of challenge for European companies.