"The best way to predict the future is to create it." — Peter Drucker
President Trump’s tariffs are causing ripple effects across the global economy, and European nations are responding with a mix of diplomacy and business strategy adjustments. The recent visit of French President Emmanuel Macron to Vietnam and Swedish automaker Volvo Cars’ decision to lay off workers are both indicative of a shifting global trade landscape.
Macron’s trip to Hanoi underscores the strengthening economic ties between France and Vietnam. With the European Union-Vietnam Free Trade Agreement coming into force soon, Macron is seeking to deepen French investment in the country. This agreement, along with Vietnam’s growing middle class and dynamic economy, makes it an appealing market. Macron’s initiative aims to ensure French businesses are well-positioned to benefit from the evolving landscape.
Volvo Cars’ announcement of layoffs in Sweden is similarly linked to the tariff situation. The company, owned by Chinese automotive giant Geely, is reshaping its operations due to rising costs attributed to global trade tensions. Volvo Cars’ CEO Hakan Samuelsson confirmed that the layoffs are a direct response to the tariffs, aiming to secure the company’s competitiveness in a challenging market.
These developments highlight the proactive measures taken by European countries
