The sector by sector: Trump’s repercussions are a tariff

The last round of the new customs tariffs launched by Donald Trump will strike almost every industry around the world, which puts an unprecedented challenge for companies that are already struggling with poor demand and inflationary pressures.

Industry executives warn that the biggest victim is American consumers who will push more to buy everything from Adidas to Modelo, the best -selling beer in the country.

The United States has unveiled a basic tax of 10 percent with an additional tariff of up to 50 percent on multiple commercial partners, including the European Union, Japan, Vietnam and Cambodia.

Cars

Foreign car manufacturers face a 25 percent tariff for all the compounds collected outside the United States. Vehicles and auto parts will remain from Mexico and Canada compatible with the USA and Kanada Convention for the year 2020 (USMCA), which is exempt from definitions.

A wide range of auto parts will also undergo a 25 percent tariff from May 3. Christophe Berilal, CEO of French auto supplier Valeu, said that half of the company’s customers have already agreed to increase the full price to accommodate the cost of customs tariffs.

While car makers have never been the additional “mutual” definitions of American trade partners, UBS warned that the fees are still likely to raise the price of raw materials and electronics, which increases the costs of vehicles.

Consultance Anderson Economic Group expects that the customs tariff will add up to $ 5,000 to American cars facing the slightest tariff and up to $ 20,000 for some imported models, which leads to an impact of $ 30 billion on American consumers in the first year of the implementation of the customs tariff.

American car makers are in a better position, but even General Motors and Ford will be affected because they are a source of components from outside the United States. Bernstein is estimated that approximately 10 percent to General Motors revenue due to definitions.

The owner of Jeep Stelantis also said that he will temporarily stop production in its factories in Canada and Mexico.

Among the largest losers are BMW and Mercedes-Benz because many parts used in their cars sold in the United States come from Europe. Subaru, in the meantime, imports all energy trains for its cars sold in the United States from Japan.

Kana Ingaki in London, Claire Bushi in Chicago, Patricia Nelson in Frankfurt and Ian Johnston in Paris

Retail and consumer goods

The leading shoe and clothing system will be hit by the new tariff system for Southeast Asian countries.

Several retailers have moved from the sources away from China to the manufacturing centers in Vietnam, Cambodia and Indonesia, which are now subject to punitive definitions of 49 percent.

The shares in the Danish jewelry maker Pandora fell by 12 percent on Thursday, as investors were concerned about the impact of definitions on manufacturing facilities in difficult Thailand. The group estimated that the cost of definitions is DKR1.2 billion per year, with the effect of the remainder of 2025, including mitigation measures, which total about 700 meters.

The United States also confirmed the end of the customs duties of the small value packages from China from the mainland and Hong Kong in a blow to e -commerce companies such as Shein and TEMU. The “De Mimineris” exemption will end on the beams of less than $ 800 on May 2.

The shares of retailers with supply chains in Southeast Asia, with sportswear groups such as NIKE, Adidas and Puma, decreased by 10 percent. The shares in the Swedish retail group H&M, which largely voted from China and Bangladesh, decreased by 4.5 percent.

Laura O’Nita in London, Florian Muller in Frankfurt, and Richard Millin in Oslo

Wine and spirits

The European groups that rely heavily on exports to the United States will be the largest losers. Rémy Cointreau has the highest exposure, with 38 percent of its sales in North America in 2024, which was almost all of the European Union.

Trump moves to extend the customs tariffs on aluminum to include all imported canned beer and empty seed cans badly for Mexican beer. CORONA and Pacifico are imported to the North American market.

Mexican beer constitutes about 85 percent of the group net sales, which amount to 25 percent of operating income, according to analysts’ estimates.

Companies like Diaageo and Campari, which sells Tikila and Canadian whiskey, breathe a sigh of relief after the White House suffers from products that correspond to the USMCA deal. The stocks in Diaageo, whose American actions are largely deviated towards Tikila and the Canadian whiskey, on Thursday.

Madeleine speed in London

luxury

Shoppers in the United States, the largest market in Luxury, must expect the cost of their handbags and ready -made fashion to wear with companies raising prices to compensate for Trump’s tariff for the European Union and Switzerland, where goods are made.

On average, luxury brands will need to raise prices by 6 percent in the United States to compensate for the effect of customs tariffs, or face a 7 percent decrease in their profits before benefits and taxes.

However, the industry has the power of pricing, which must protect it from the worst effect. The wealthy Americans may also double one of their favorite entertainment: shopping abroad.

The biggest concern will be to succeed in global consumer confidence at a time when the luxury industry is already slowing after the crazy boom of the Covid-19. Some companies, such as Ferragamo, LVMH, and Cartier Richemont owner, are more exposed to the Americas more than others, according to Barclays.

“What we should be concerned,” Luka Solka said in Bernstein.

Adrian category in Paris

Pharma

Pharmaceutical preparations are exempted from customs tariffs at the present time, although Trump has indicated that he could take a action that focuses on the sector at a later time. He said on Wednesday or faces a “large tax.”

Mixed messages mean some stocks, including Astrazeneca, GSK and Novartis, on Thursday, while others fell, such as Novo Nordisk and Roch.

Pharmaceutical makers were hoping to protect the World Trade Organization deal in 1994, with the exception of medicines resulting from customs tariffs and other tasks. But in recent weeks, some, including Eli Lily and Johnson & Johnson, have declared significant investments in the United States due to tariff concerns.

The manufacture of medicines can be the most hit by potential tariffs due to its low margins. Jefferies analysts believe that the sector can save because it is a “major contributor to reducing the costs of medicines in the United States”, and it appears that Trump focuses on branded drug makers, which transferred manufacturing to Ireland due to the low corporate tax rate.

Hana Kushler in London

Flying

Trump’s flight tariff is expected to make more expensive for travelers as airlines have passed at the high manufacturing costs.

Analysts in vertical research partners said that about 20 percent of the materials used to create a Boeing aircraft are imported, and “customs duties will increase the cost of making aircraft.”

The European Airbus manufacturer has built a collection line in the United States, but it will face higher import costs there. Prices are probably transferred to airlines, and eventually to customers.

Although Airbus will be able to transfer costs to its customers, the company was “weak” due to the size and complexity of its supply chain, analysts in Barclays said.

Philip Georgiadis in London

Logistics services

Logistics and logistical services, many of which have made great profits during the disruption of trade in the roaming epidemic, hope that the repercussions of definitions provide an opportunity.

CEOs said logistical services that customers are paying in addition to transporting goods to the United States Inventory products in American warehouses. Many logistical companies also provide consultations and customs services, which require high demand as customers drive any new costs and border operations they will face.

Mercsk, a leading container shipping group, said she expects “some fallen air orders” before the last Trump tariff enter the coming days.

In addition to this rush, it is expected that Trump’s decision to remove the tax exemption for low -cost imports to the air freight market, which was Supported by the increasing demand from Chinese retailers Take advantage of this exemption.

Fears of the recession in the trade struck the stock prices for the Danish group AP MøLler-MAERSK and HaPag-LLOYD in Germany, one of the largest containers. Share in some of the largest international shipping companies, including the DHL Deutsche Post, Kuehne+Nagel and DSV.

Oliver is a novel in London