埃森哲：2025年新关税格局下的经济冲击与企业韧性构建研究报告（英文版）

Another factor that will determine the global impact of the new U.S. tariff regime is the extent to which other countries retaliate by increasing their own tariffs. To date, only Canada and China have implemented retaliatory tariffs against the U.S. The EU signaled an intent to impose new tariffs but put them on hold in response to President Trump’s 90-day pause.2 Decisions to retaliate will be influenced by the perceived costs and benefits. Figure 3 illustrates three significant variables th