German Chambers of Commerce: US auto tariffs of 25% could cost German economy 6B Euros a year

Dhwani Mehta FXStreet

Martin Wansleben, Managing Director of Germany’s DIHK Chambers of Commerce said in a statement on Friday, the German economy could lose an extra 6 billion Euros ($6.71 billion) a year should the US impose further tariffs of 25% on imports of cars and car parts, Reuters reports.

Wansleben noted: “But ultimately this would not only affect German manufacturers, but also consumers in the United States.”

On Wednesday, Reuters quoted three Trump administration officials, citing that the US President Trump is expected to delay a decision on imposing the auto tariffs on the EU and Japan by up to six months.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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