ExxonMobil‘s Antwerp Exit Signals Deeper European Industrial Woes, Economist Warns
Antwerp, Belgium – ExxonMobil’s planned departure from the Port of Antwerp, alongside similar project cancellations in the Netherlands, isn’t an isolated business decision, but a symptom of a broader, self-inflicted decline in european industrial competitiveness, according to economist Bruno colmant. He attributes the issue not to specific political figures like Donald Trump, but to a basic lack of European industrial policy and a failure to secure reciprocal trade agreements.
Colmant argues that a pattern of project postponements and cancellations, individually dismissed as minor setbacks, collectively represent a “slow death” for the European industrial fabric. “The danger is precisely this trivialization,” he stated. ”Each withdrawal of a project of several tens of millions is put into perspective, but the accumulation ends up weakening all the industrial fabric.”
The economist points to the imposition of customs duties without reciprocal arrangements as a key driver of the problem, leaving the European economy vulnerable. “The overall picture is dramatic: a European economy that is suffering because we have been imposed on customs duties without reciprocity. And above all,the problem is that we have no industrial policy.”
ExxonMobil’s decision to withdraw from Antwerp and the Netherlands underscores a deteriorating investment climate, signaling that Europe is no longer a guaranteed destination for capital. This echoes warnings from former european Central Bank President Mario Draghi, who cautioned the continent faced a “last chance” to revitalize its industrial base.
“Without a colossal impulse at the industrial level, there is no positive factor to wait,” Colmant concluded. He views ExxonMobil’s exit as a warning – a sign that continued investor flight could ultimately jeopardize Europe’s economic standing.
