Trump’s protectionist measure place under threat 5,000 Belgian jobs

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If the new American President Donald Trump instigates higher customs duties as promised between 1,200 to 5,000 jobs may be under threat.

De Tijd is saying this today (Tuesday).

These protectionist measures may impact the Belgian economy’s growth by between 0.1 to 0.42%, according to growth forecast simulations carried out by Hylke Vandenbussche, Professor of International Economics at the University of Leuven.

Currently the United States applies an average levy of 2.1% on European imports. Donald Trump has announced his intention to increase this form of tax to 5%, or even 15% temporarily.

Belgium exports, both directly and indirectly, some 8.2 billion dollars (7.6 billion euros) to the United States. These activities relate to some 54,000 jobs or 1.2% of the country’s employment.

The author: Margareta STROOT

Margareta Stroot, a multi-talented individual, calls Brussels her home. With a unique blend of careers, she balances her time as a part-time journalist and a part-time real estate agent. Margareta's deep-rooted knowledge of the city of Brussels, where she resides, has proven invaluable in both of her roles. Her journalism captures the essence of the city, while her real estate expertise helps others find their perfect homes in the vibrant Belgian capital.

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