Danish Industry estimates that the tariff war could result in the loss of 16,000 jobs in Denmark.
Donald Trump has spoken of the possibility that the EU might find itself in the crosshairs of his persistent tariff conflict.
Should a genuine tariff war erupt between the US and the EU, the Danish economy might, in the most dire scenario, shrink by 47 billion kroner, resulting in the loss of 16,000 jobs.
Calculations conducted by the Confederation of Danish Industry reveal this, as reported by Ritzau.
According to Allan Sørensen, chief economist at the Confederation of Danish Industry, the analysis projects five years into the future; however, the tariff war may yield repercussions even prior to that timeframe.
The Americans have issued threats of imposing tariffs on European goods that could reach as high as 25 percent. This is an initiative that could be implemented with relative speed and will have a significant impact on us.
Nearly irrespective of the scenario under consideration, it will impose a significant cost on Denmark and its economy should tariffs be levied on Danish goods entering the US, he asserts.
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