Final answer:
The trade with Europeans harmed African economies by undermining local industries such as textiles, while it benefited European economies by supporting their industrialization and leading to economic growth in the Americas, though this growth was based on exploitation and slavery.
Step-by-step explanation:
Trade with Europeans had differing impacts on American and African economies. For example, the exchange of European textiles for enslaved people was detrimental to African cloth producers, who could not match the quantity or price of European goods. This subverted the potential development of a continent-wide African textile market. Meanwhile, European economies benefited significantly from this trade, which supported their own industrialization efforts. On the societal level, the Transatlantic slave trade led to the devastation of African society, with profound losses in kinship networks, labor, and traditional knowledge and crafts. In contrast, the Americas experienced economic growth in some areas, but this was deeply intertwined with the exploitation and inhumane treatment of Indigenous populations and enslaved Africans.