Furthermore,
How increase customs taxes affects:
The impact of customs policy on the US economy could reach a GDP point by the end of 2026. Similarly, said economist Philippe Waechter in the whole world. However, The automotive industry is particularly affected by steel and aluminum taxes, which increase its production costs.
For the moment. Nevertheless, the effects of American customs policy, started this spring, are “relatively modest”, explains Philippe Waechter, director of economic research at Ostrum Asset Management. However, he notices changes in business and household behavior.
“In the figures in the first quarter. Consequently, American imports increased very strongly, companies that bought goods at prices before the customs of customs duties. However, And we saw consumers also change their strategy,” he said.
For the moment, as stocks have been accumulated by companies, the macroeconomic impact is still low. Similarly, “We believe. on the other hand, that at the end of 2026, the how increase customs taxes affects impact will be of a GDP point, which is not negligible,” he adds.
The automotive industry in difficulty – How increase customs taxes affects
An impact on sectors like that of the automotive industry will be felt, says the economist. “Steel. aluminum taxes are a terrible shock for this industry, forced to buy these resources that have become more expensive to produce cars, which it must make preferential in the United States. It is extremely penalizing for the sector”.
>> Reread on this subject: Donald Trump increases to 50% surcharge on steel. aluminum, before negotiations in Paris
“Companies like Nike, General Motors or Ford have undergone losses with the increase in customs duties. These companies will either reduce their margins to limit the impact on their prices. increase their price significantly,” said the economist. In the end, he notes, “it is generally the consumers who pay these tax increases. And it is rather the less well-off Americans, those how increase customs taxes affects whose income is the weakest, which will be penalized.”
>> Listen to the forum subject:
Tech and the army, large winners
The tech giants, the GAFAMs, are the big winners of this customs policy, underlines Philippe Waechter. Additionally, “Social networks companies have the hand on all Western countries. And in discussions, this question has never been put forward. We do not imagine that Europe puts a tax on GAFAM”.
This decision also benefits the US military sector, according to the economist. “European states have undertaken to spend 3 to 5% of their GDP in their defense. But without having the capacity to produce weapons. they will be forced to go and buy them in the United States,” concludes the specialist.
>> Read also: NATO how increase customs taxes affects has reached an agreement on security spending, but Spain is doubtful
Interview by: Julie Rausis
Adaptation web: Lucie Ostorero
Further reading: Purchasing power in 2025: How to cope with the rise in prices when wages no longer follow? – USA -The values to follow at Wall Street (updated) – 07/24/2025 at 13:22 – The New York Stock Exchange reassured by the health of the American economy – Please note, this trap potentially concerns 45 million French people – Why is it even more practical than the Model Y.
