Belgian exports to the United States could become 4 billion euros more expensive because of President Donald Trump’s import tariffs, reports 24brussels.
For the first time, the Federal Public Service Economy has assessed the financial impact of Trump’s tariffs on Belgian exports to the US. In 2024, before Trump began his second term, these exports totaled 27.4 billion euros. In the previous year, US importers paid approximately 258 million euros in tariffs for products sourced from Belgium.
17 times higher
The agency estimated that by October 1, 2025, the tariffs might range between 4.17 billion and 4.38 billion euros, based on the prevailing rates. This forecast assumes that trade volumes remain consistent with those of 2024, suggesting that the cost for Belgian exporters could be as much as 17 times higher than in the previous year.
US customers foot the bill
The pharmaceutical sector is projected to be the most significantly impacted by these US import tariffs. The reported export value of pharmaceutical products from Belgium to the US reached 15.24 billion euros in 2024, contributing to over half of the country’s total exports. The expected tariffs for this sector could escalate from 300,000 euros last year to approximately 2.29 billion euros in the coming year.
US consumers are anticipated to face the heaviest financial burden due to these tariffs. Goldman Sachs economists indicated in a recent note that about 55 percent of the tariff costs will likely be assumed by American consumers, as outlined in a Bloomberg report.
Port of Antwerp © BELGA PHOTO YORICK JANSENS
