Europe's Factories Boosted by Tariff Frontrunning as August Deadline Looms

European Manufacturing Faces a Downturn in the Following Months as the August Tariff Deadline Looms

- FROM PAGE 1

Economy meanwhile picked up in Germany this month, according to the ZEW Indicator of Economic Sentiment also released Tuesday. Still, European manufacturing faces a downturn in the following months as the August tariff deadline looms. Brussels's negotiators have repeatedly said they want to reach a deal with the Trump administration, but in the event the 30% duties are implemented, the hit to the economy could be severe. In Germany alone, economic output could be lowered by 0.7 percentage points, according to research from economists at Frankfurt-based Commerzbank.