Impact on European economic sectors

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This could also impact car parts suppliers such as Bosch and Continental, leading to changes throughout the supply chain. The introduction of tariffs on European agricultural products such as cheese and wine could lead to losses for producers in countries such as France, Italy and Spain. The EU may have to look for alternative markets in Asia or South America . However, the process could take time, and the loss of the US market will reduce the profits of many European farmers, especially in light of the changes brought by the Mercosur Agreement .

In addition, EU member states may step up their push for joint conservation measures, including subsidies or internal trade preferences, to support their producers. The inclusion of European technology greece phone number data companies in a potential trade war could lead to difficulties in accessing US markets and higher production costs for components. Companies such as Nokia and Siemens could be forced to invest more in research and development to become less dependent on US suppliers.

At the same time, trade tensions could push the EU to step up work on local alternatives to US tech giants such as Amazon and Google, which could strengthen the European digital ecosystem. In the long term, however, this could increase the cost of innovation and slow the pace of development in the technology sector.