Strategist: The new U.S. tariffs have no impact on the European market

Panmure Liberum strategist Joachim Klement wrote that the newly proposed 10% US tariff makes no difference for European exporters. Klement said: “This has no impact on the European market, as the temporary 10% tariff is simply being replaced by a permanent 10% tariff. In reality, nothing changes for exporters.” The new tariffs proposed on European and UK exporters were introduced before another temporary 10% tariff was set to expire at the end of July. US Trade Representative Jamieson Greer stated that these tariffs were imposed due to concerns over forced labor. Klement said: “The rationale for the tariffs appears ridiculous on the surface because Europe’s anti-slavery laws are much stricter than those of the US.”