President of the United States Donald Trump Threats to impose tariffs on several European allies have set off alarm bells for industry and businesses across the region.

trump saturday Commitment to impose 10% tariff Before February 1, the United Kingdom, Denmark, Norway, Sweden, France, Germany, the Netherlands and Finland will increase their efforts to promote Greenland to become an autonomous Danish territory. part of america.

Trump said that starting from June 1, taxes on these countries will be increased to 25%.

European political leaders will hold emergency talks in the coming days to consider their response, retaliatory measures Wider punitive economic policies are also reportedly on the table.

CNBC took a look at some of the industries expected to be most vulnerable to Trump’s tariffs.

European automobile giants are Blow Trump’s back-and-forth trade policies last year are considered to have been highly exposed again.

The auto industry is widely viewed as highly vulnerable to taxation, especially given the highly global nature of supply chains and heavy reliance on North American manufacturing operations.

German Volkswagen, BMWand Mercedes-Benz Group Shares of listed companies in Milan fell more than 2.5% on Monday morning star It was last down about 2.1%.

Mohit Kumar, chief European economist at Jefferies Group, said Trump’s tariffs are clearly detrimental to the economic prospects of Germany, which has traditionally been seen as Europe’s growth engine.

“If we do impose tariffs, of course, we have to see how the geopolitical situation develops, then… the chemical, industrial, automotive sectors will be the most affected, and those sectors will directly contribute to Germany’s economic growth,” Kumar told CNBC.early european edition” on Monday.

Of the eight European countries threatened by Trump’s Greenland tariffs, Germany has by far the largest trade surplus with the United States, followed by France and the United Kingdom, Eurostat data shows.

Along with seven other European countries, Trump’s proposed tariffs singled out France, home to industry leaders among others LVMH and dry.

On Monday morning, the shares of LVMH Group and Kering Group fell by about 3.5% and 2.6% respectively. Luxury goods groups, including Swiss Richemont Groupitalian Brunello Cucinelliand the British Burberryalso lower.

European pharmaceutical industry could face significant impact from proposed US tariffs on pharmaceuticals and pharmaceutical products Represents the EU’s largest export to the United States

According to Eurostat, EU pharmaceutical exports to the United States in the first three quarters of last year were worth 84.4 billion euros ($98.1 billion), ahead of machinery and machine parts (68.3 billion euros) and organic chemicals (66.3 billion euros) in the same period.

Shares of some of the industry’s largest European companies fell slightly on Monday morning amid Trump’s latest tariff threats.

Denmark’s Novo Nordisk fell 2.1%, Switzerland’s Novo Nordisk fell 2.1% Roche Down 0.3%, France Sanofi It was down 0.9% in early trading. Headquartered in Switzerland NovartisMeanwhile, shares rose 0.3%.

oil price It was last trading slightly lower on rising concerns about the trade war between the United States and Europe and what that could mean for global demand.

norwegian Statoil Energy stocks were among the sector’s leaders on Monday, falling about 3.4%. French total energyBritish shelland blood pressure fell 1% to 1.5% respectively.

Ozan Özkural, founder and managing partner of Tanto Capital, said Trump’s latest tariff threat should not come as a surprise and warned it would have a broad impact on European industries.

“Welcome to 2026,” Ozkural told CNBC. “I think this year we’re going to have more conversations about what it means to not allow the United States to work with its traditional allies.”European Squawk Box” on Monday.

“This will have an impact on oil prices, commodity prices, stock markets, debt markets, private credit. You name it, we have it,” Ozkural said.