Potential Blow: How U.S. Tariffs Could Shake Germany's Economy

Germany's Finance Minister Joerg Kukies cautioned about the impact of U.S. tariffs on both German and U.S. economies. The tariffs, set to hit imported cars, could significantly affect German automakers and consumers in the U.S. Kukies pledged European measures to protect the economy from a trade conflict.

Germany's Finance Minister Joerg Kukies has issued a stark warning regarding the potential repercussions of newly imposed U.S. tariffs, emphasizing the blow it could deal to both the German and U.S. economies.

The announcement came following discussions in Washington with Treasury Secretary Scott Bessent and other U.S. officials, as the U.S. declared a 25% duty on imported cars starting April 3, leaving little room for negotiation.

Kukies stressed that these tariffs would hit the German automotive industry and elevate consumer prices in the U.S., while affirming Europe's intent to safeguard its economy, despite acknowledging the detrimental effects of escalating trade tensions.

(With inputs from agencies.)