A European Central Bank study published on April 30 indicates that European households are increasingly willing to avoid American brands, associating them with “Trumpism.” The study, based on a March survey, found that European consumers are “very willing to actively move away from US products and services” in response to potential tax increases. Notably, wealthier individuals showed a greater inclination to boycott American goods.
This marks a shift, as Europe is not typically prone to boycotts. McDonald’s CEO, Chris Kempczinski, has observed a rise in anti-American sentiment in global consumer surveys, particularly in Canada and Northern Europe.
Evidence suggests this trend is already impacting American businesses. European tourism to the US is declining, and Tesla sales are plummeting. In France, Tesla registrations fell by 59% in April 2025 compared to April 2024, while the overall French car market declined by 5.6%. For the first four months of 2025, Tesla sales were down 44%. While product line updates may be a factor, Elon Musk’s association with Donald Trump is seen as a significant contributor to this decline. The report suggests it remains to be seen how other prominent American brands will fare amidst this growing sentiment.
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