If the European Union and the United States do not reach a trade deal and Brussels implements its planned counter-levies on American products, it could be a significant windfall for the Dutch treasury. It is possible that 1.5 billion euros will flow into the treasury.
That’s according to the CBS, the Dutch statistics office. EU member states are allowed to keep 25 percent of the levy funds themselves. And because Dutch ports process relatively many American goods, that could bring a considerable amount of money.
Brussels and Washington are negotiating a trade agreement, but the talks are proceeding quite slowly. President Donald Trump has already threatened import duties of 30 percent on European goods if there is no agreement by August 1.
The EU already has countermeasures ready. For example, Brussels has drawn up two lists of American products on which it wants to levy tariffs, including aircraft, cosmetics, agricultural goods and medical equipment. European companies bought 93 billion euros worth of such goods last year.
About 19 billion euros of that comes into Europe via the Netherlands, although more than half goes straight on to other countries. If the EU uses a levy of 25 percent (slightly lower than the US), it could yield the Dutch treasury around 1.5 billion euros.
Dutch companies have to pay levies
There is also less good news. In many cases, the EU levies must be paid by Dutch companies. This can be particularly costly for sectors that import many products from the US. Medical equipment, measuring instruments and chemical goods, among other things, often come from the US.
For the time being, there are still many ifs and buts. So it is still unclear whether there will be a trade deal. It is also not known exactly what Trump will do if that deal does not materialize and what Brussels’ reaction will be.
It does appear that EU member states agree on the list of American goods on which a levy should be imposed. Various sources reported this to the press agency ANP on Thursday. However, the European Commission is still said to believe in a deal with the Americans.