Devdiscourse
Development News Edition
Give Feedback
write for Us

US auto tariffs would cut EUR 6 bn from German GDP, says DIHK

U.S. President Donald Trump's administration came under fire on Thursday for considering tariffs of up to 25 percent on imported cars and parts.


Reuters Germany
Updated: 20-07-2018 12:05 IST
US auto tariffs would cut EUR 6 bn from German GDP, says DIHK

He said such levies would not only result in job losses in Germany and Europe but would also hit jobs and investment in the United States. (Image Credit: Twitter)

United States tariffs on imported cars would slash around 6 billion euros ($6.99 billion) off German economic output, the president of Germany's DIHK Chambers of Commerce told German television on Friday.

U.S. President Donald Trump's administration came under fire on Thursday for considering tariffs of up to 25 percent on imported cars and parts, a levy that could raise vehicle costs, hurting auto sales and industry jobs.

DIHK President Eric Schweitzer said on ZDF television that he took Trump's threats "very seriously" and added such tariffs would be "against international law".

He said such levies would not only result in job losses in Germany and Europe but would also hit jobs and investment in the United States.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

COUNTRY : GermanyUnited States

POST A COMMENT