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German Economic Sphere: US Tariff Increases Could Deal a Heavy Blow to German Industries
7 hour ago /
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Author：小编
An analysis conducted by Germany's Kiel Institute for the World Economy reveals that if the United States hikes tariffs on EU automobile exports to its market, the German automotive sector stands to suffer losses amounting to €15 billion in the immediate term, with the potential to escalate to €30 billion over the long haul. Beyond Germany, nations like Italy, Slovakia, and Sweden are also poised to feel the repercussions. On the first (day of the month), Trump announced that the US would escalate tariffs from 15% to 25% starting next week. The President of the German Association of the Automotive Industry has urged for dialogue and a commitment to upholding trade agreements.
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