Bloomberg: Europeans threaten to boycott US goods

A survey conducted by the European Central Bank and published by Bloomberg shows that a growing number of consumers in the Eurozone are ready to abandon US made products amid escalating trade tensions stemming from US President Donald Trump’s tariff policies.

According to the survey, this shift reflects not only economic motives linked to rising prices, but also political and popular sentiment toward Washington’s trade policy.

Participants considered that US protectionist policies harm European interests and weaken the competitiveness of products in global markets.

This poll came as the US president escalated his rhetoric in defense of his trade agenda during a campaign rally in Michigan on Tuesday, April 29, marking the 100th day of his second term.

“We gave them some time before we slaughtered them,” Trump told his supporters, referring to companies that import auto parts from abroad, after he temporarily reduced tariffs on domestically produced auto parts by 25% for two years.

Calls are growing within the European Union for countermeasures to protect European markets from the repercussions of the escalating trade war.

In the same context, Trump launched fresh criticism at Federal Reserve Chairman Jerome Powell, despite recently confirming that he had no intention of firing him.

He said, “You don’t have to criticize the Federal Reserve, but I know more about interest rates than they do”.

On the other hand, opinion polls have shown a significant decline in Trump’s popularity.

An ABC News/Washington Post/Ipsos poll reported that his job approval rating stood at just 39%, while a CNN poll showed his approval rating at 41%, the lowest in decades at this point in the state.

While Trump promotes his trade policy as a means of repatriating manufacturing to the US, major companies such as General Motors and Stellantis have warned of the repercussions of these tariffs, pointing to the possibility of factory closures and layoffs.

Stellantis has temporarily halted production at several of its factories in Michigan and Indiana, as well as at a plant in Canada, due to the recent tariffs and a shortage of supplies.

In Europe, economist Alexander Weber said the results of the European Central Bank survey reflect a shift in public sentiment against American products, asserting that consumers’ tendency to boycott American goods is gradually increasing with Washington’s escalation of tariffs.

The European Commission is expected to announce its official position on the US moves in the coming weeks, amid growing calls within the European Union for countermeasures to protect European markets from the repercussions of the escalating trade war.