For the vice-president of PIMEM, Rafel Matas, “this has consequences for European SMEs and tourist markets. We are talking about exports at risk, weakening the economic engines of countries such as Germany and the United Kingdom, Mallorca’s main markets. It should be remembered that EU exports to the US represent 18% of the European total. Although the strong dollar lowers the price of European products to the US, the policy of tariffs and barriers to importers could make them less competitive.”
On the other hand, PIMEM is concerned, according to different statistical publications, that the American population has suffered a reduction in its purchasing power due to inflation, which could affect the consumption of imported products if they are taxed. For the president of the association, Jordi Mora, “this has a particular impact on exporting SMEs, which will have to adjust their strategies if they want to stay in the North American market. We are talking about a higher cost of exports to the US and of imports from this country.”
Another aspect familiar to the vast majority of European exporting companies stems from Trump’s slogan: ‘America first’. For Rafel Matas, these are not mere slogans and “the probable introduction of trade tariffs in different sectors will make it difficult for European companies to access American markets and may influence the tourist markets that send tourists to the Balearics’.
On the other hand, PIMEM has pointed to a possible increase in tourists from the already growing American market due to the strength of the dollar and improved air communications. With regard to communications and logistics, Matas points out that “the securing of international supply lines promoted by the EU since the Covid period will now have a new added factor in the search for growth in friendly and strategically secure markets. Europe will have to seek new trade agreements and alliances.”
The domino effect which, according to the employers’ organisation, could occur if the EU responds to the introduction of tariffs by also imposing tariffs on external products, such as those recently introduced on cars imported from China, should not be ruled out. For Matas, “the EU will have to move more quickly towards protectionism, as aggressive exporting countries will try to compensate for the loss of the US market by exporting to Europe”.
The employers’ organisation stressed that this was already pointed out in the plan presented by Draghi for the EU a few months ago, on economic competitiveness and the EU’s new industrial strategy. The Vice-President said that “open world trade governed by multilateral institutions seems to be passing”.
Matas stressed that “a joint plan for decarbonisation and competitiveness could entail, in specific circumstances, defensive trade measures to offset state-sponsored competition abroad”. “The election of Trump will undoubtedly aggravate this whole process,” the PIMEM vice-president said.
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Everybody knows that if you're not a Trump disciple, a devoted subscriber to the steady stream of (verifiable) bullshit that comes with it, then you can only be a "woke left wing socialist", who are of course, responsible for anything you find objectionable (regardless of whether it is actually objectionable, or who actually is responsible for it). Just as team Trump would have you believe. "They" are always the baddies. "We" never do anything wrong ("They" should be "locked up" for anything even approaching what "we" hope to get away with. Trump gets away with it, so now "we" can too?). Having said that, I welcome the already increasing numbers of Americans who visit the island (regardless of their political views). The ones that are willing to take that long flight are coming to experience culture and sightsee and enjoy the good stuff the island has to offer, rather than seeking a cheap drunken beach holiday in shagaluf (they can go to Florida or Cabo or the Caribbean for that). Better yet, they aren't just pretending to have "loadsamoney". They actually do have money, and spend it liberally here, on quality stuff instead of tourist junk. And they don't expect to be treated exceptionally by accident of birth.
So Bryan Adams writes off 74 million Americans. Wow, didn't get tge result you wanted and it hurts doesn't it woke left wing socialist boy!
Mass escape of UC citizens possessing more than three brain cells probably...
These wealthy Americans can be high spenders. Welcome in Mallorca. But what will the Anti-Tourist people do to cause them to not return.