Trump's policies are fueling boycotts of American goods in Europe
Seeking Alpha News (Sun, 30-Mar 12:12 PM)
Salling Group, Denmark's largest retailer and the operator of supermarkets Bilka, Fotex and Netto, has started marking on its electronic price tags whether a product is owned by a European company, spurred by an increasing number of customers looking to avoid American brands.
President Donald Trump's policies, including threats to impose punitive tariffs and withdraw security guarantees, including his handling of Ukraine, have rankled European leaders and consumers, which has increased calls to boycott American products.
According to a YouGov poll published earlier in the month, favorable attitudes towards the U.S. in several Western European countries have slumped since Trump's took office for his second term. Currently, there is no country in Europe where more than 50% of the population has a favorable view of the U.S.
Opinions towards the U.S. were the least positive in Denmark, which saw a 20% drop, driven by Trump's repeated calls to take over Greenland.
57% of the French are ready to boycott American goods and services in the coming months as public perception of the U.S. falls to its lowest in 40 years in France, according to a survey by polling firm Ifop for website nyc.fr.
Coca-Cola (KO) was the most boycotted brand, followed by McDonald's (MCD), Starbucks (SBUX), and KFC (YUM), the Ifop survey added. Elon Musk's Tesla (TSLA) and social media platform X were the only two non-food brands to be significantly boycotted.
A Danish Facebook group, Boykot varer fra USA (Boycott products from USA), has drawn nearly 93,000 members since its creation in February. A similar Swedish group, Bojkotta varor från USA, has attracted nearly 83,000.
In a similar French Facebook group, users discussed European laundry detergents and smartphone apps, asked for alternatives to Google's (GOOG) (GOOGL) Gmail and American bourbon.
The "BuyFromEU" forum on Reddit (RDDT) has garnered nearly 200,000 members.
The groups also host discussions on what makes a product American, and whether boycotting products owned by American brands made in Europe would affect European jobs. Notably, all these groups are hosted on an American social media platform.
Businesses have also warned of the potential costs. Plant-based meat producer Beyond Meat (BYND) warned that "anti-American sentiment" could hurt its international sales.
Swiss chocolate maker Lindt said earlier this month it will supply chocolate made in Europe to Canada rather than the U.S., to both avoid tariffs and potential consumer backlash.
Perhaps the brand hit hardest is electric vehicle maker Tesla (TSLA). The company's European sales plunged nearly 43% in the first two months of the year, amid buyer backlash over chief executive Musk’s role in the Trump administration.
"I felt a sense of powerlessness," said Bo Albertus, an administrator of the Danish Boykot varer fra USA group to The New York Times. "We all feel that we are doing something. We are acting on our frustration."
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