The U.S. government's erratic tariff policy changes have created a great uncertainty that disrupts multinational enterprises' operation in the country and causes chaos in planning their future global investment and business distribution, said several participants at the ongoing Battery Show Europe, which kicked off on Tuesday in Stuttgart, Germany.
The battery tech expo, running through Thursday and focusing on the latest developments in the advanced battery and automotive industries, has gathered insiders like battery manufacturers, suppliers and engineers from across the world.
Many of the enterprises participating in the expo said the on-and-off U.S. tariff policy has increased the uncertainty on the global market and impacted the multinational firms' efforts to make plan for their global business.
"Many of our U.S. customers are withholding their investment. The U.S. government requested a 90-day negotiation window, and this has increased the uncertainty on the global market. I believe that when the factors and the future plans remain unclear, it's always bad for the economy," said David Pier, global head of end use energy storage at BYK, a global supplier of specialty chemicals.
Some industry insiders noted that the high tariffs are not a sustainable solution and will eventually trigger backlashes from U.S. industries.
"I believe the U.S. tariff policy is not sustainable, because what the U.S. government is doing now is simply to flex their muscle and they are making every effort possible to gain interests for themselves, but I think even the industrial sector of the U.S. will not make it to the end of this year and it will launch counteraction against the tariff policy," said Michael Eisner, vice president of Business Development Mobility and New Energy APAC at the NORMA Group, an international provider of engineered and standardized joining and fluid-handling technology.
Other enterprises at the expo said they are forced to turn away from the U.S. market, and they are putting more resources in expanding business operation in other regions across the world.
"Currently, we can't make specific plans for the following months, because no one knows what will happen tomorrow and this means we have to focus on our operation outside the United States, including the countries in South America and North Africa," said Stefan Roth, director of sales at RAMPF Production Systems, a supplier of innovative systems for processing plastic systems.
Firms at Europe's battery show say US tariffs uncertainty disrupts strategic planning
