Goldman Sachs: The Trump tariff scandal is likely to have a short-lived impact on European stock markets Goldman Sachs economists say that the latest round of 10% tariffs threatened by Trump could shrink the eurozone's gross domestic product by about 0.1%. The Goldman Sachs team expects that this 10% tariff will result in a decrease of 0.1% to 0.2% in the actual gross domestic product of affected countries by suppressing trade. The team pointed out that if this were a progressive equivalent tariff, Germany would suffer the heaviest blow, with economic growth possibly declining by 0.2%; If it is a comprehensive taxation, the decline may reach 0.3%. The team led by Sven Aristern wrote in the report: "If market confidence is dampened or there are negative fluctuations in financial markets, the losses caused by this may further expand." The escalation of trade tensions has triggered global financial market turbulence, with European stock markets and US stock index futures falling on Monday, and safe haven assets such as gold rising in response. However, multiple strategists have stated that given the resilience of the economic outlook, the impact of this storm on European stock markets is likely to be short-lived.