Analysis: "Boycott USA" Movement and Market Implications

Anti-US Sentiment Drives Boycotts

• Social media campaigns against US products are gaining momentum across Europe and Canada, fueled by Trump's tariffs on steel and aluminum.
• Google Trends data highlights increased search activity for local alternatives in regions like Denmark, Sweden, and France.

Country-Specific Boycotts

Canada

• The Liquor Control Board of Ontario (LCBO) removed US-made spirits like Jack Daniel’s from shelves.
• Ontario canceled a $100 million contract with Elon Musk's Starlink.
• Tourism to the US dropped by 23% from Canada.

Denmark & Sweden

• Over 70,000 members in Facebook groups advocate for buying European alternatives.

France

• The campaign "BOYCOTT USA: Buy French and European!" promotes local products over US imports.

Impact on US Brands

• Tesla sales in Europe declined by 45% in January, attributed to Musk's association with Trump.
• European retailers are labeling locally made products to help consumers avoid US goods.

Cultural & Economic Repercussions

• Artists and businesses are distancing themselves from the US, with a German violinist canceling his US tour and a Norwegian fuel supplier halting shipments to the US Navy.
• Boycotts may force American brands to rebrand or relocate manufacturing to mitigate declining sales.

Long-Term Effects and Trade Relations

• Experts predict deepening resistance to US trade policies as Trump ramps up nationalist rhetoric ahead of the 2024 election.
• Sustained boycotts could lead to long-term setbacks for American exports and tourism, further straining global trade relations.