Europe's counter to Trump tariffs will affect 30% of Dutch imports, mostly high-tech

The counter-tariffs announced by the European Commission on American goods could affect around 30 percent of Dutch imports. This refers to the value of these imports, according to Statistics Netherlands. The tariffs will primarily impact high-tech manufacturers, including those producing medical equipment and data technology.

The United States is threatening to impose a 30 percent tariff on imports of European goods starting August 1, unless the European Union reaches a trade agreement before then. If that happens, the EU plans to respond with counter-tariffs worth 93 billion euros.

The American goods subject to these counter-tariffs and entering the Netherlands represent a value of more than 19 billion euros. That amounts to 30 percent of the value of Dutch imports from the United States in 2024. According to Statistics Netherlands, the country will bear the largest share of the measures after Germany.

Medical equipment entering the country will be particularly hard hit, including items such as pacemakers and stents. Last year, imports of these products from the United States were valued at nearly 2.5 billion euros. Computers, laptops, and tablets will also be affected by the counter-tariffs, as will measuring instruments used to determine distances or speeds, for example.

However, Statistics Netherlands noted that more than half of this share is re-exported directly to the rest of Europe, which limits the economic burden for the Netherlands. In addition, the tariffs will also generate extra revenue for importers. EU member states are allowed to keep 25 percent of the collected tariffs. According to CBS, this could bring an estimated 1.5 billion euros into the Dutch treasury.

It was reported on Thursday that the EU is close to reaching an agreement with the U.S. The reported deal would result in a broad 15% tariff on EU goods being imported into the U.S.