New US tariffs "will only create losers," the German Automotive Industry Association said after Donald Trump’s announcement that Washington would impose a 25% tariff on all foreign-made automobiles. The industry body called on the European Union to act together and with the "necessary force." The US is one of the most important markets for German carmakers Volkswagen, Mercedes, BMW and Porsche, for whom falling overseas sales will likely deal a severe blow. EU chief Ursula von der Leyen said the bloc has a solid strategy for retaliation if the US imposes sweeping tariffs on it. However, she has stressed that a "negotiated solution" to avoid a trade war is preferable.
#Tariffs #GermanCars #EuropeanUnion
For more news go to: http://www.dw.com/en/
Follow DW on social media:
►Instagram: https://www.instagram.com/dwnews
►TikTok: https://www.tiktok.com/@dwnews
►Facebook: https://www.facebook.com/deutschewellenews/
►Twitter: https://twitter.com/dwnews
Für Videos in deutscher Sprache besuchen Sie: https://www.youtube.com/dwdeutsch
Subscribe: https://www.youtube.com/user/deutschewelleenglish?sub_confirmation=1
