Trump’s Tariffs to Significantly Impact Dutch Economic Growth

AMSTERDAM: According to projections released Thursday by the Netherlands Bureau for Economic Policy Analysis (CPB), the extensive trade tariffs declared by U.S. President Donald Trump are anticipated to diminish economic expansion in the Netherlands by one percentage point by 2026.

The CPB indicated that growth is expected to be 0.4 percentage points lower this year compared to prior estimates, and 0.6 percentage points lower in 2026.

Before the introduction of the new tariffs, the agency’s most recent forecast anticipated growth rates of 1.9% and 1.5% for 2025 and 2026, respectively.

The CPB cautioned that investments would be most affected due to uncertainties regarding the global economic landscape.

The agency further noted that exports from the euro zone’s fifth-largest economy would experience a lesser impact because trade with the U.S. represents only 6% of the country’s total exports. Furthermore, the tariffs are not expected to eliminate all American demand immediately, owing to a scarcity of alternatives.

This analysis is based on the 20% tariff on all goods imported from the EU, which Trump announced on April 2 but subsequently suspended for 90 days. A “baseline” tariff of 10% on almost all imports into the U.S. took effect on April 5.

The CPB suggested that a similar impact on the Dutch economy would arise if the EU implemented comparable tariffs in response.