The media learned about the damage of €11 billion for Germany due to US tariffs on cars
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- The media learned about the damage of €11 billion for Germany due to US tariffs on cars
The imposition of duties on all passenger cars and trucks, announced by US President Donald Trump, could lead to €11 billion in losses for German automakers. This was reported on March 27 by the German edition of Handelsblatt, citing experts from the American analytical firm Bernstein.
According to experts, the overall drop in profits will depend on the duration of the duties.
It is clarified that on the afternoon of March 27, stock prices of German manufacturers of BMW, Mercedes, Porsche and Volkswagen brands have already begun to fall. The total cost of the fall was more than €5 billion in market value.
The day before, Trump announced the introduction of 25 percent duties in the United States on all cars and trucks manufactured outside the country. He specified that these measures will come into force on April 2 and will be added to the existing ones. The White House estimates that approximately $100 billion in annual duties will be collected.
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