Trump’s “Liberation Day” tariffs: the largest winners and lost

Global markets, enterprises and long -standing geopolitical relations were thrown into a strife on Thursday, the day after US President Donald Trump Tariff policy – And Europe was not devoid of chaos.

The European Union was Click 20% of dutiesWhile the UK was injured with a smaller 10%, The benefits of its more balanced trade relations in the US. Now all eyes will be about how far the policies will go, and how deeply the conflict can intensify.

Most analysts agree This, from an economic point of view, is small – or perhaps not – economic winners from the expected slowdown and destruction of trade ties.

Some bright spots still appeared among European assets on Thursday – as well as some deeply negative.

The Citi Analyst Analytics said that a German shoe manufacturer said BirquestokItalian fashion brand Brunela Kusineli and the Danish jeweler Pandora They were one of the names of sectors with the largest impact of income in America, and the US accounted for 31% to 47% of companies’ sales.

Luxury conglomerate LvmhGucci owner Dry and the parents of the Cartier Richemont Citi also also generated at least 20% of the US sales.

I describes the US As a “main place” for food and beverages such as wine, beer, alcohol, chocolate, cheese and olive oil.

AB INB.The world’s largest brewer, its shares on Thursday decreased by 0.6% Penod Ricard and Heineken were 2.5% and 1.3% lower. Tate & Lylerunning One of the world’s largest sugar refineriesAfter shed 2.6%.

“Our sectors are highly integrated throughout the Atlantic, and our total spirits supports numerous jobs on both sides, through production, distribution, agriculture, retail and welcoming,” the Trade Body Spirits Europe said. “We want to provide a return to an environment that supports constant growth for both EU and US manufacturers.”

Germany was EU’s largest exporter in the US last year. Some of the largest car manufacturers in the region, including BMW, Volkswagen, Mercedes-Benz and Porsche – They are all now Provided 25% tariffs for imports.

In the client’s note on Thursday, Robin Winkler, Chief Economist Deutsche Bank Research, said “does not say that yesterday’s tariff ad … This is bad news for the German economy.”

“However, the negative surprise is not so much in the immediate tariff hit,” he said, noting that the markets were waiting for a mutual tariff by 20%.

“However, far higher US levies in the amount of 50% and more Asian imports are a real surprise and provide a more sharp world trading shock than we and most observers are waiting,” Wincler said. “Indirectly, this is also a negative shock to Germany.”

Federal Association of Wholesalers, Foreign Trade and Services of Germany (BGA) in Trump’s mutual tariffs on Thursday as a “frontal attack on world trade”.

“With sharp tariff campaigns for more than 100 trading partners, the US president immerses the world in an open trade war with US Brexit,” Bga President Dirk Yandur said in an email statement. “I believe that the conflict will significantly affect our economic growth. The longer it takes, the more it will be for everyone, including in the US.”

Many trading sellers selling clothes, shoes, home conditions, electronics and abroad have global supplies based in Asia. Southern and Southeast Asian countries including Cambodia, Vietnam, Indonesia, Bangladesh and Sri Lanka H & M and Adidas – and were disputed With some of the highest rates among the recently announced US mutual tariffs, 40%by 40%.

“For many exporters (new tariffs are) the difference between income and loss. Enterprises should see for a long time whether they can continue to serve customers profitable – and if they cannot focus on new, more friendly markets, perhaps where trading deals already exist, and diversify production to other products, Direct Consultations said in electronic messages.

“The transition to the collection of tariffs at the time of exports – unlike arrival in the US – can raise a number of questions,” it is worth adding.

Danish sea giant Mayers On Thursday, the tariff plan announced by the White House would lead to greater caution among its customers in more delicate economic conditions.

“In modern form (tariffs), it is clearly not good news for the global economy, stability and trade,” the company said.

On Thursday, the stock of European and logistics firms were generally and Maersk fell by 9.5%, Table-lloyd falls on 8%and Dsv shedding 6.5%.

British bank Standard coveredHigh exposure to Asia decreased by 10%. Global Jungernut Hsbc was 7.5% lower.

Germany Volkswagen, Mercedes-Benz Group and BMW traded more than 2% below Thursday afternoon, while Milan is on the list Stellantis – Which belongs to home names including Jeep, Dodge, Fiat, Chrysler and Peugeot – decreased by 3.5%.

Escalation of the global trade war is expected to have a deep impact on the automotive industry, in particular, given the high globalization of supply networks and great dependence on production operations across North America, especially in Mexico.

European currencies were one of the few assets in the region, which rallied on Thursday. A Euro and British pound touched the six -month maximum as well Swiss franc He grew to the highest level against the green circulation since mid -October.

To the so -called tariffs for Trump’s release, Market observers reported CNBC Euro and Sterling could see up when new duties on imports in the US came into force.

In a note on Thursday morning, Jordan Rochester, the head of the FICC strategy at Mizuho Emea, said he saw in the near future that the euro would say $ 1.12. By 15 pm in London on Thursday, it purchased 2.2% for trade of $ 1.108.

“Net-Net FX pursues a real equilibrium yield that involves EUR/USD to 1.11 or 1.12. Our forecast is at the end of the year, but at this pace it is up to next week,” Rochester said in the note on Thursday.

However, he added that at some point there was a “Sellof USD limit”, predicting that the euro could start selling if a $ 1.11 was crossed by Friday.

On Thursday in Europe Stoxx Pharmaceuticals and Biotechnology Index were 1.9% lower while British players Gsk and Astrazeneca typing 2.7% and 1.5% respectively. Danish giant Novo nordisk hovering along a flat line.

Utilities, which are traditionally a defensive game during market disturbances, were last seen 2.6% higher during lunch. On the basis of France Annie and Spain Iberdro They were among the best performers of the sector, both increased about 2.7%, and the last 52-week high.