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Trump’s economic policy may have negative effect at Belgian job market


Professor of international economics at KU Leuven Hylke Vandenbussche carried out simulations of what will happen if the new US president Donald Trump follows through with his campaigning promises to raise import tariffs.
According to the results of this investigation between 1,200 and 5,000 jobs in Belgium could be at risk.
The US currently applies an average tax of 2.1% on European imports, but Trump wants to raise this to 5% or even 15% temporarily, writes De Tijd on Tuesday.
This increase would also affect the growth of the Belgian economy. These measures could cost the economy anywhere from 0.1% to 0.42% growth, according to Vandenbussche.
Belgium directly or indirectly exports around $8.2 billion (€7.6 billion) of goods to the US, which accounts for 54,000 jobs or 1.2% of employment in the country.

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