The EU Member States most impacted by the increased American import tariffs will be Ireland, Slovakia, Germany, Hungary, Italy, and Austria, according to credit ratings agency Moody’s on Monday.
The evaluation is based on the share of each country’s economy that is dependent on exports to the United States.
"The effect of the new tariffs announced by US President Donald Trump on Wednesday will vary greatly depending on the sector," the rating agency warned.
Within the European Union, the machinery and alcoholic beverages sectors are expected to be hardest hit, as more than a fifth of their exports go to the United States.
"The European Union’s response will determine the overall impact on the economies," Moody’s added, noting that this depends on whether further tariffs are imposed or not.
The EU is trying to negotiate with the United States to reduce these tariffs but is also preparing for retaliatory measures.
On Monday, the European Commission offered the US a reciprocal zero tariffs agreement for industrial goods.
