Lower thirds:

00:02 Report by Tessa Walther
00:43 Louis Jarossay, Bakery Manager
01:10 Karel Lannoo, Think Tank CEPS
01:46  Ksenija Simovic , Copa Cogeca
02:12 Louis Jarossay, Bakery Mananger

ANMOD

After days of panic, stock markets crashing and worries about a global trade war, US President Donald Trump has now made a turnaround ad announced a 90-day break of looming 20 percent tariffs on EU imports. The reaction from Europe was swift: They also stopped their planned counter measures. But the question is – how does this back and forth impact businesses? Our Europe Correspondent, Tessa Walther, has been in Brussels gathering reactions and gauging the mood on the ground.

00.00

Customers in the café in Central Brussels may soon have to pay more for their favourite soymilk latte and California orange juices. EU tariffs have been suspended for now, but customers still fear higher prices.

00.16
+++Vox Pops+++
((eng))
It’s going to be a difficult to pay more now that we're also paying more for a lot of the stuff anyway, because of the inflation.

((eng))
I think some people can probably get over it, but some might not. So that’s something to consider.

((fr))
The industry will be impacted, the economy as a whole. This will play out in all sectors.

00.36
Bakery owner Louis Jarossay also fears higher prices which could impact his sales.

00.42
+++Louis Jarossay, Bakery Manager+++
The more expensive our products get, the fewer things consumers will buy. So this could have an impact on the entire production chain.

00.51

Orange juice and soy products are just a few of the American goods that could hit consumers' wallets given the EU import tariffs in response to President Trump’s global levies. But when stock markets plunged, Trump backed off, pausing additional tariffs—and the EU followed suit.

01.10
++++ Karel Lannoo, Think Tank CEPS +++
Many people will be very unsure, because a lot of damage has been done certainly over the last week. The way this administration reacts, I think many people think “who knows what happens tomorrow?”.

01.21
And EU countermeasures are still on the table. If negotiations in the coming weeks break down, one sector stands to take a major hit: agriculture. Soybeans... worth 2.6 billion euros in EU imports in 2024... are at the top of the list of potential targets for new tariffs on US goods entering the European market.

01.46
+++SOT Ksenija Simovic , Copa Cogeca +++
When it comes to proteins necessary for livestock feed, we are dependent. We import a significant amount from the US. They are very competitive and have good quality of soy that we import for our feed needs. And so this would definitely reflect as to the cost of livestock production.

02.03
This would lead to higher meat prices—which would soon be reflected in Louis’s baked goods, like his ham sandwiches.

2.12
+++Louis Jarossay, Bakery Mananger+++
So far, our supplier contracts haven’t been affected—but in the coming weeks, we’re expecting prices to rise. 

02.30 ((louis))
Louis hopes that the next few weeks will bring an end to the trade war. So far, it seems far from over...

ENDE 2.28