US Tariffs Threaten EU Job Market: 1.7 Million Jobs at Risk in Key Industries
March 28, 2025
The blue-collar manufacturing, logistics, and distribution sectors are expected to be the most affected by these tariffs, which could exacerbate existing skills shortages in IT and engineering fields.
As the deadline of April 2 approaches, uncertainty surrounding the specifics of the potential US tariffs is raising concerns about the EU labor market.
The EU employment sector could face a staggering loss of around 1.7 million jobs due to these tariffs, with key countries like Germany, Italy, the UK, France, and Poland being heavily impacted.
Germany is projected to lose approximately 400,000 jobs, while Italy, the UK, France, and Poland could see job losses of 240,000, 150,000, 140,000, and 100,000 respectively.
The anticipated implementation of broad US tariffs poses a significant threat to labor recovery within the European Union.
Analysts at Deutsche Bank estimate that reciprocal tariffs on all exports to the US could lead to a reduction in GDP by around 0.9% for the EU and 0.6% for the UK.
Summary based on 1 source
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Investing.com • Mar 28, 2025
Potential U.S. tariffs threaten EU labor recovery- DB