During its half-yearly barometer last November, shortly after the election of Donald Trump at the White House, only 5 % of the Belgian economic sectors questioned were thus “Optimists”. They are now 33 % to see a radiant future for their companies. Note that this last survey was carried out last May when the United States had “put in break mode” its trade war with Europe. Since the Trump administration has returned with a 30 % customs tariff project for European products exported to the United States.
Trump targets two new sectors, whom he considers “criticism of national security”
But this announcement did not bring tsunami from previous attacks by the American billionaire. “”We know that these strong declarations of Trump show above all that he entered negotiations with EuropeansPoursuit Pieter Timmermans. And it’s positive. Europe has all weapons in hand to obtain a good agreement. We have in particular sectors which are fundamental to the American economy “.
If a trade war with Uncle Sam will have “Negative consequences” On our economy, it could however be limited. “ Although the United States is our fourth export destination, the vast majority of exchanges concern only a business grip “, Explain the FEB. The pharmaceutical sector, which represents 55 % of Belgian exports to the USA, is also – for the moment – preserved by these customs duties.
New Trump customs tariffs: the European Union is still careful not to retaliate, retaining the hope of a negotiated solution
A positive “Trump effect” for Belgian companies
Even if indirect effects of this trade war are expected for many Belgian companies, the majority of the sectors (53 %) believe that it will have “Little or no impact” On their business. The leader of the FEB, Edward Roosens, even points out “Something positive” For our economy in world chaos brought by the host of the White House. “”Trump’s policy (low dollar, economic uncertainty leading to a drop in energy prices, etc.) has reduced inflation in Europe. Now we know that in the event of an inflationary shock, as has been the case in recent years, Belgium is one of the most affected countries: with the automatic indexing of wages, the competitiveness of our companies is then undermined “.
For the first time for a long time, Belgian wage disability compared to its neighbors, which reached a summit of 12.2 % in 2023, would be down. But you shouldn’t be mistaken. The table remains dark according to the FEB, which has been losing 15,000 industrial jobs in Belgium for two years or the very low projects to extend our businesses.
A “strange political creature” in Brussels which is not unanimous: “no need to have a diploma to know that it would be a disaster”
The situation would even be “Disastrous” For many Brussels companies, blocked by “the absence” of regional government for more than a year. “”Everyone sees the enormous projects that the capital has in terms of mobility, security and cleanlinessInsiste Pieter Timmermans. However, the political world is always discussing to share positions, rather than a real project for Brussels. It is no longer acceptable “. The Feb also has a look to the federalty. “”The new Belgian government must implement its program as quickly as possible, especially in terms of labor market reforms. It is essential to revitalize our economy. No more beautiful words, it’s time to act “, concludes the boss of the FEB.
