Here are the European exporters most exposed if Trump’s Greenland tariffs kick in

U.S. President Donald Trump has threatened a rising question of tariffs connected respective European allies, raising the alarm for industries and businesses crossed the region.

Trump connected Saturday pledged to enforce 10% tariffs connected the U.K., Denmark, Norway, Sweden, France, Germany, the Netherlands, and Finland by Feb. 1, ramping up his propulsion to marque Greenland, a self-governing Danish territory, a portion of the United States.

The levy connected these countries volition emergence to 25% from June 1, Trump said.

European governmental leaders are acceptable to clasp exigency talks implicit the coming days arsenic they see their response, with retaliatory measures and broader punitive economical policies reportedly connected the table.

CNBC takes a look astatine immoderate of the sectors expected to beryllium the astir exposed to Trump's tariff threats.

Europe's car giants, which were hit hard by Trump's back-and-forth commercialized policies past year, are considered to beryllium highly exposed erstwhile again.

The automotive assemblage is wide regarded arsenic acutely susceptible to levies, peculiarly fixed the precocious globalization of proviso chains and the dense reliance connected manufacturing operations crossed North America.

Germany's Volkswagen, BMW, and Mercedes-Benz Group were each trading much than 2.5% little connected Monday morning, with Milan-listed Stellantis past seen down by astir 2.1%.

Mohit Kumar, main European economist astatine Jefferies, said Trump's tariffs intelligibly correspond a antagonistic improvement for Germany's economical outlook, a state traditionally seen arsenic Europe's maturation engine.

"If we bash get tariffs, and, of course, we person to spot however the geopolitical concern pans out, past … the chemicals, industrials, autos sectors, these volition beryllium the astir impacted, which straight feeds to German growth," Kumar told CNBC's "Europe Early Edition" connected Monday.

Of the 8 European countries threatened by Trump's Greenland tariffs, Germany, by far, enjoys the top commercialized surplus with the U.S., followed by France and the U.K., according to information from Eurostat, the EU's statistical office.

Luxury stocks were seen arsenic mostly sheltered from U.S.-EU commercialized tensions successful the archetypal 4th of past year, fixed their robust pricing powerfulness and quality to walk connected added costs to consumers.

Analysts warned astatine the time, however, that the imaginable of tariffs ushering successful a broader economical downturn could person spillover effects, adjacent for the wealthiest shoppers.

Alongside 7 different European countries, Trump's projected tariffs azygous retired France, which is location to the likes of manufacture bellwether LVMH and Kering.

Shares of LVMH and Kering fell astir 3.5% and 2.6% connected Monday morning. Luxury groups, including Switzerland's Richemont, Italy's Brunello Cucinelli, and Britain's Burberry, were besides trading lower.

Europe's pharma assemblage could look a important interaction from the projected U.S. tariffs, fixed that medicines and pharma products represent the EU's largest export to the U.S.

EU exports of pharma products to the U.S. came successful astatine 84.4 cardinal euros ($98.1 billion) during the archetypal 3 quarters of past year, up of machinery and mechanical parts (68.3 cardinal euros) and integrated chemicals (66.3 cardinal euros) implicit the aforesaid period, according to Eurostat data.

Some of the sector's biggest European names fell somewhat connected Trump's latest tariff threats connected Monday morning.

Denmark's Novo Nordisk was 2.1% lower, Switzerland's Roche dipped 0.3% lower, and France's Sanofi fell 0.9% during aboriginal deals. Swiss-based Novartis, meanwhile, traded 0.3% higher.

Europe's lipid and state stocks could besides beryllium indirectly impacted by Trump's latest tariff threats, owed to factors specified arsenic weaker planetary demand, little crude prices and accrued proviso concatenation costs.

Oil prices were past seen trading somewhat little amid heightened concerns of a commercialized warfare betwixt the U.S. and Europe — and what this could mean for planetary demand.

Norway's Equinor was among the vigor stocks starring the sector's losses connected Monday, down astir 3.4%. France's TotalEnergies, Britain's Shell, and BP fell betwixt 1% and 1.5%, respectively.

Ozan Özkural, laminitis and managing spouse astatine Tanto Capital, said Trump's latest tariff threats should not person been unexpected, informing of a wide interaction for European sectors.

"Welcome to 2026. I deliberation this is going to beryllium the benignant of twelvemonth that we are going to speech a batch much astir what it means not to person the U.S. play shot with the accepted allies," Özkural told CNBC's "Squawk Box Europe" connected Monday.

"It's going to person an interaction connected lipid prices, commodity prices, equity markets, indebtedness markets, backstage credit. You sanction it, we person it," Özkural said.