PlasticsEurope, the association of European plastics manufacturers, has taken a stand on the ‘all against all’ trade tariff war that the Trump administration has decided to unleash globally, commenting on the European
Commission’s decision to retaliate against the 25% tariffs imposed on steel, aluminium and derivatives imported into the United States. In recent days Brussels has announced that it will apply ‘prompt and proportionate’ customs duties on a series of American products starting from 1st April, for an estimated value of 26 billion euro. According to rumours, the list could also include some plastics from North America; PlasticsEurope fears that this decision could put the integrity of the European plastics industry at risk: ‘While we understand the need to protect European economic interests,’ says Virginia Janssens, director of PlasticsEurope, “we emphasise the importance of maintaining the principles of free trade and fair competition, which are fundamental for global economic stability and growth”. ‘The imposition of tariffs, particularly on industrial goods such as plastics, will have a significant impact on supply chains, increasing costs for businesses and penalising consumers on both sides of the Atlantic,’ adds Janssens (in the photo), emphasising the
economic interdependence between the two areas. In fact, 11.7% of extra-EU exports of plastics are destined for the United States, in fact, 11.7% of extra-EU exports of plastic materials, for a value of 3.4 billion euros in 2023, while imports into Europe from the USA are higher, equal to 5.3 billion euros, equal to 22.2% of extra-EU imports.

Source: https://www.polimerica.it/articolo.asp?id=33512