Germany is grappling with the impacts of President Trump's sweeping tariffs, which include a 20 percent tariff on all EU imports. This move, which follows a 25 percent tax on foreign cars, is expected to imperil the German auto industry, affecting over 750,000 jobs. Industry leaders have had mixed responses, with calls for a unified EU reaction alongside suggestions for negotiation. The potential for a trade war is underscored by the WTO Director-General's comments, and the German Economic Institute estimates economic losses from these tariffs could reach €200 billion over four years.
Reactions from both German industry leaders and politicians have been mixed... with some calling for immediate backlash and others cautioning against reactionary measures.
The blanket tariff of 20 percent on all EU imports comes following a previously announced 25 percent tariffs on foreign cars and steel and aluminium.
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