European exporters to the U.S. might deal with considerable headwinds from brand-new tariffs President Donald Trump is anticipated to reveal Wednesday afternoon. While information stay limited ahead of a Rose Garden event at 4 p.m. ET, financiers have actually been bracing themselves for broad-based levies on imports. Treasury Secretary Scott Bessent formerly called out the “Filthy 15,” or the 15% of nations that represent most of U.S. trading volume– that includes the European Union. Trump has actually likewise threatened to carry out 200% tariffs on alcohol and spirits from Europe. The Stoxx Europe 600 index was last down around 1% London trading, with the Stoxx Europe 600 Health care index falling 2% to its floor given that Dec. 20. Here are a few of the European stocks Bank of America thinks are most at danger from intensifying tariffs due to their high profits direct exposure to the U.S. Here’s where experts see them going next: Danish pharmaceutical huge Novo Nordisk made the list. The weight-loss drugmaker has 55% profits direct exposure to the U.S., according to BofA. CEO Lars Fruergaard Jorgensen has actually alerted of prospective drug scarcities and greater rates if tariffs are executed on European countries. Novo Nordisk likewise sells the U.S. under an ADR. U.S.-listed shares have actually toppled almost 21% year to date. Medical gadget maker Smith & & Nephew might likewise take a hit from tariffs. The British business has 54% of its profits coming from the U.S. The business has actually currently felt the effects of Trump’s trade war through the tariffs on Chinese imports. CEO Deepak Nath stated the business has “considerable” production in China for its injury sector. Smith & & Nephew is likewise sold the U.S. through an ADR. Year to date, U.S.-listed shares have actually leapt 14%. Music streaming huge Spotify depends on the U.S. for more than a 3rd of its profits, according to BofA. The Swedish business sells the U.S. under an ADR, which has actually leapt 26% in 2025. Regardless of the prospective tariff threats, experts stay positive on the stock. Most of those covering Spotify rate it a buy or strong buy, with the agreement rate target showing almost 15% upside prospective, according to FactSet.– CNBC’s Michael Blossom added to this report. Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE, an unique, inaugural occasion at the historical New York Stock Exchange. In today’s vibrant monetary landscape, access to specialist insights is critical. As a CNBC Pro customer, we welcome you to join us for our very first unique, in-person CNBC Pro LIVE occasion at the renowned NYSE on Thursday, June 12. Sign up with interactive Pro centers led by our Pros Carter Worth, Dan Niles, and Dan Ives, with a scandal sheet of Pro Talks with Tom Lee. You’ll likewise get the chance to network with CNBC specialists, skill and other Pro customers throughout an amazing mixed drink hour on the famous trading flooring. Tickets are minimal!
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