Geopolitical events
On May 2, 2026, the United States administration announced the imposition of a 25% tariff on automotive imports from the European Union, citing national security concerns and the necessity of protecting the domestic industrial base. This policy shift follows the collapse of bilateral negotiations regarding digital services taxation and agricultural market access. The European Commission has characterized the move as "unjustified" and confirmed that retaliatory measures against U.S. agricultural and technology exports will be implemented immediately. This escalation in trade friction is projected to disrupt global automotive supply chains and significantly impact Eurozone macroeconomic growth forecasts.