"For motorcycle lovers in Sweden, Harley-Davidson is the hottest brand on the road. Jack Daniel’s whiskey beckons from the bar at British pubs. In France, Levi’s jeans are all about chic.
But in the tumult of President Trump’s trade war with Europe, many European consumers are starting to avoid U.S. products and services in what appears to be a decisive and potentially long-term shift away from buying American, according to a new assessment by the European Central Bank."
What is new, the central bank said, is a “preference” among European
consumers “to move away from U.S. products and brands altogether,” no
matter what the cost. That was the case even for households that could
bear the brunt of higher prices.
“Even though they could afford more expensive U.S. products and
services, they consciously choose alternatives,” the bank said. “This
suggests that consumers’ reactions may not just be a temporary response
to tariff increases, but instead signal a possible long-term structural
shift in consumer preferences away from U.S. products and brands.”
Full N.Y. Times story is HERE.
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