Europe, tariff
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Autoweek |
No automaker will be truly immune from the effects of the tariffs, but some will be in a particularly bad spot.
Reuters |
Wall Street stocks tumbled on Thursday on mounting worries over the economic impact of U.S. President Donald Trump's multi-front tariff war.
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The president's global raft of tariffs was dubbed "worse than the worst-case scenario" by experts, but the most alarming parts of the plan were delayed on April 9.
European carmakers are trying to work out how much their prices might have to rise in response to looming U.S. import tariffs, industry sources said.
Europe’s auto giants slipped on Wednesday, extending recent losses as U.S. President Donald Trump’s sweeping tariffs on dozens of countries came into effect.
Leaders may first try to negotiate before imposing reciprocal tariffs, says Timothy Hellwig, an expert on European politics.
Anderson Economic Group says the impact of auto tariffs on U.S. consumers could be $30 billion in the full first year.
The auto industry flourished again in the latter half of the ... which is an unfairness in the trade relationship," Hersh said. "It's not because Europe had higher tariffs on U.S. trucks than the U.S. had on European trucks. It's different tastes and ...
Trump launched a trade war during his first term, taking particular aim at China by putting taxes on most of its goods.
For Europe, doubling down on its relationship with China could come at a steep price—including the loss of its storied auto industry.
European Commission President Ursula von der Leyen held a call with metals industry representatives on Monday and was due to speak later to the automobile sector about how to respond to U.S. tariffs.