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Daily Update — April 16, 2025

EU’s Tariff Response; Offshore Wind Demands; and European Private Credit

Today is Wednesday, April 16, 2025, and here’s your curated selection of Essential Intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.

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Global Trade

Listen: Trade Tensions: How the EU Could Respond to US Tariffs

 

In this episode of “The Decisive” podcast, host Kristen Hallam engaged in an insightful discussion with S&P Global Market Intelligence experts Shuchita Shukla and Dijedon Imeri about the implications of potential US tariffs on the EU's economy. 

 

Recorded shortly after significant tariff announcements by the US government, the episode delves into how these measures could reshape trade dynamics, affect growth forecasts and influence the EU's decision-making processes. The conversation also explores the historical context, comparing current challenges to past trade disputes during President Donald Trump's first administration, and highlights the varying vulnerabilities of EU member states. 

 

Learn more about the EU’s response to potential US tariffs in S&P Global Market Intelligence’s upcoming webinar, EU/US Tariffs Showdown: Consequences and Alternatives for the European Trade Landscape.

Energy Transition & Sustainability

'Back to boring' is cure for battered European offshore wind market: panel

 

At WindEurope’s 2025 conference in Copenhagen, Denmark, industry leaders discussed the importance of improving visibility on offshore wind buildout schedules and expanding revenue stabilization mechanisms such as two-way contracts for difference to reduce costs in the long term. The wind industry is calling on European governments to auction at least 100 GW of new offshore wind capacity between 2031 and 2040 to meet rising demand, with annual installations needing to reach 15 GW by the 2030s. However, concerns over investment uncertainty and risky auction frameworks are threatening project viability and investor confidence.

 

Speakers highlighted that achieving energy independence requires the rapid deployment of renewable energy. The US’ retreat from offshore wind under President Trump has created opportunities for European developers such as Ørsted, RWE and Iberdrola, which have faced significant financial setbacks on their US projects. 

Private Markets

Unique Characteristics Of European Private Credit May Better Insulate Market From Shocks

 

Over the past decade, the nonbank financial institution sector has significantly transformed Europe's financial landscape by diversifying funding sources and increasing the interconnectedness between banks and nonbank credit providers. But these linkages have increased the risk of financial instability. The fragmentation of the eurozone's economies presents challenges for private credit, particularly as borrowers tend to be small and medium-sized enterprises, limiting the growth of private markets in Europe. 

 

Despite these challenges, Europe's market characteristics may provide some insulation against cross-sector spillover effects and systemic risks during market shocks. The smaller size of the market and its fragmented dynamics, along with the historical dominance of local banks, help to limit the interconnectedness between banks and nonbanks. 

 

Explore S&P Global Market Intelligence’s private markets solutions to position your business for success with integrated data, software and expertise. 

In case you missed it

  • US President Donald Trump's 90-day pause of tariffs led to a shift in shrimp markets, according to market sources and analysts.
  • Since 2000, international equities have only outperformed US equities in nine years. However, the dynamic looks to be changing as developed market equities ended the first quarter higher, according to a comparison of the S&P United States LargeMidCap index and the S&P World Ex-U.S. Index.
  • The average lead time for mines has continued rising, reaching 17.8 years for those that became operational between 2020 and 2024. This duration is nearly three times longer than the lead time for mines that began operations between 1990 and 1999.

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