The U.S. government's erratic tariff policy changes have created a great uncertainty and a challenging environment for global trade, said several participants at the ongoing Battery Show Europe, which kicked off on Tuesday in Stuttgart, Germany.
Running from June 3 to 5, the battery show has attracted more than 1,100 companies from around the world.
Many exhibitors at the event said they are taking a wait-and-see approach because of the tariff uncertainty in trade with the United States.
"This is a big problem for all our customers. All of them in this industry have had some U.S. projects suspended or postponed, because they want to see how things go," said Michele Farruggio, managing director of ZELL Surface Technology.
With fear of uncertainty, businesses may fall into chaos and fail to formulate complete business plans, according to the business leaders.
"Nobody knows what will happen, so let's see what will happen. Everybody is just expecting to see what will happen with the taxes, what will happen at the market. Nobody knows what will happen right now," said Esteve Llaurado, sales manager of European Integrated Production and Test Engineering Company (IPTE).
The U.S. tariffs have forced many European exporters to look for alternative markets, including China.
Bertrand Lebettre, head of applied engineering of SPIROL, said his company is seeking to expand businesses in the European and Chinese market.
"There are some new announcements every week, every two weeks. So, it's a big mess. We never know what will happen. I think that we should take this also as an opportunity for us in Europe and maybe in China to show our capabilities and maybe expand our [businesses]," Lebettre said.
Battery Show Europe participants complain about U.S. tariff uncertainty
Battery Show Europe participants complain about U.S. tariff uncertainty
