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At least in (most of) Europe, we do still have a large public part in healthcare/retirement and in general less stock investment culture so people won't see their safety netand retirement money collapsing, sure loosing let's say 10% of your saving sucks, and may even impact your ability to buy a new home (unless interest-rate fall faster in that case you may even be able to buy a nicer home)
We're also kinda lucky, The US adding tariff means that we'll export less to the US, but we can still export to the rest of the world at the same conditions as before. Note also that the remaining manufacturing in Europe is mostly complex product with high added value Planes, industrial robots, or Champagne's wine are already very expensive so I expect that many of the American who can afford these will still be able to afford-it with the tarifs. I am not Naïve, export to the US will dip, but I see some factors that should limit the dip.
Don't get me wrong, some European companies will loose US contract, and will at best launch mass lay-off plans or even bankrupt, and people will be unemployed (see point above about public safety net it makes the difference between selling your car, not going in holiday and shopping at Lidl and ending up homeless). But I am kinda optimistic, the impact for real people will be under control. I am old enough to remember 2008, and it wasn't that bad.
so, as a human being, you approve of the suffering of others to learn a lesson?
No, but most people here approve of the fact that we have at least some cushions to shield us from this madness.
It sucks to be everywhere, but I at least feel lucky knowing that there is absolutely no way I won't be able to make rent for the next 1-2 years, whatever happens, since the rent is fixed for the next 3 years and even if I get fired I'll get unemployment for 1-2 years.
I hope it gets better for US folks, but it really seems that the chickens came home to roost for unchecked neoliberalism over there.