European countries are not all equally exposed to the US market and so will not suffer the same consequences should President Donald Trump go ahead with his threats to impose 30-percent tariffs on the European Union.

Goods imported from both the European Union and Mexico will face a 30% U.S. tariff rate starting on August 1, U.S. President Donald Trump said in letters posted to his social media platform on Saturday.

Economists had already downgraded growth for the European Union, and the new duties would hit industries there especially hard. Companies are looking for ways to blunt the impact.