That’s true. Tariff will likely decrease the demand of some products that have an elastic demand. The result will be that Americans will pay 15% more for all the products, for some they will buy alternatives (where they exists) or less, and Europe will need to increase the market in the rest of the world for the share of products that cannot be sold anymore. In the short term it will likely hurt Europe too, but in the long term the impact will be basically only on the US.
That’s true. Tariff will likely decrease the demand of some products that have an elastic demand. The result will be that Americans will pay 15% more for all the products, for some they will buy alternatives (where they exists) or less, and Europe will need to increase the market in the rest of the world for the share of products that cannot be sold anymore. In the short term it will likely hurt Europe too, but in the long term the impact will be basically only on the US.