[eisfresser]

Americans consumer may continue to buy European goods at a higher price, but that's only roughly a third of the pie. The bigger part is European firms selling intermediate goods and capital goods to companies. There is not fuzzy preference in that marked, it's very cost driven. The extra tarif will tilt the balance heavily in favour of domestic producer.

And these tarifs will not go away quickly. Those domestic producers who benefited will lobby hard to keep them, no matter who sits in the white house.

[verdverm]

> And these tarifs will not go away quickly

Companies can buy exceptions and carve outs from Dear Leader

ASML would likely get an exception