European consumers are ready to actively move away from American products and services following the trade war of President Donald Trump, according to research from the European Central Bank.
Asked how they would react at different potential levels of prices – and the reprisals equivalent by the European Union – respondents in a recent survey revealed that they were “very willing” to find non -American alternatives, the ECB said on Wednesday in a blog.
The researchers even found that these points of view were largely independent of prices, which are normally supposed to stimulate the behavioral changes in commercial levies.
“Consumer reactions can not only be a temporary response to tariff increases, but rather report a possible long -term structural change in consumer preferences far from American products and brands,” said the blog. “It seems that the simple presence of a price would encourage a large part of consumers to reconsider what they buy.”
The conclusions are involved in the midst of a global reaction against the American prices announced on April 2. In Canada, growing tensions with Trump administration not only kept Liberal Prime Minister Mark Carney in power, there is also one national campaign Buy domestic products instead of alternatives from its southern neighbor.
In Europe, consumers have beenOnline information exchangeOn the best substitutes for American products. Tesla Inc. has already experienced sales in the region falling 43% in the first two months of the year, despite the overall electric cars market of more than 30%.
The ECB stressed that the results of similar surveys are very different in the United States, where consumers “said they stored goods that should increase price due to potential prices”.
Most EU products are currently faced at a 10% rate in the United States during a 90-day window that Trump has allowed negotiations. The block was kept on counter-triggers against the United States during these discussions, although it is preparingSome measuresIn case they fail.
This story was initially presented on Fortune.com
