Germany and Ireland are standing out as the two most exposed EU economies threatened by higher US tariffs, as Brussels works towards a trade deal with Washington, amid reports that pharmaceutical tariffs could be as high as 200%.
When US President Donald Trump imposed a new 25% tariff on auto imports and car parts in April, Germany was identified as the EU country with the most to lose. Brussels-based think tank Bruegel’s estimation at the time was that tariffs could cost 0.4% of the country’s GDP in the long term.
