Trump’s Tariffs and EU Energy: The Real Cost of Trade Wars

Donald Trump has never been subtle about his views on trade. His first term was defined by protectionist policies, and now, with his return to the White House, tariffs on European imports are back on the agenda. The EU, which has spent years navigating Brexit, an energy crisis, and the upheaval of Russian supply disruptions, now faces another economic shock—one that could push up infrastructure costs, disrupt supply chains, and inject fresh uncertainty into wholesale energy markets.

The reality is, energy markets don’t operate in a vacuum. They depend on global supply chains, long-term investment certainty, and a delicate balance between cost and policy. Slapping tariffs on European imports, particularly on industrial goods and key materials, threatens to destabilise that balance.

So, what happens next? And more importantly, what does this mean for wholesale energy prices in the UK and beyond?