President Trump’s sweeping Definitions on cars On Thursday, a sharp reaction was attracted by leaders in Germany and France, who called on the European Union to return firmly against the measures they said would harm the United States and Europe, and global trade as a whole.
Mr. Trump announced on Wednesday that he would impose a 25 percent tariffs for cars and auto parts It has been shipped to the United States, pressure on Senior commercial allies in America All over the world. the DefinitionsAnd who said it is permanent, will enter into force on April 3.
President Emmanuel Macron from France said on Thursday that he told Mr. Trump the previous day that the definitions are “not a good idea.” He added that France will work with the European Commission on “Riposte”, which will be the goal “to find an agreement to dismantle the definitions” and make the American president “reconsider”.
In Germany, which is considered a major source of the United States and facing a blow, the Minister of Economy, Robert Habik, said, “It is very important for the European Union to provide a decisive response to definitions,” adding: “It must be clear that we will not back down.”
In a statement, German Chancellor, Olaf Schuls, described Mr. Trump’s decision to target “a mistake.” He said: “The United States begins on a path that only ends with the losers.” “Because customs tariffs and isolation cost prosperity for everyone.”
The American market is crucial for the largest car manufacturer in Germany, including BMW and Mercedes-Benz and Volkswagen. German car manufacturers have A long time ago From the anger of Mr. Trump.
Mr. Habik and Mr. Macron warned that the definitions will strike growth chains and provide them on both sides of inflationary pressures in the Atlantic Ocean and fans in the United States. Mr. Macron added that the US stock market has sent a clear indication that “it is not a good economic policy.”
The advertisements “are bad news for German automotive companies, for the German economy, for the European Union, and also for the United States,” adding that Germany will support the European Commission, the executive arm of the European Union, because it is negotiating with the United States to find a solution that narrates a tariff.
Mr. Trump, which will be applied to the parts of the car and the final vehicles that are shipped to the United States, sent The shares of German automaker companies Thursday. The shares of the Italian luxury automotive company Ferrari and the Swedish manufacturer Volvo also declined. ROUTH included European auto parts as well as Pirelli and Continental tire producers.
The German car maker BMW said in a statement on Thursday that the trade war “will not have any benefits”, and called on the European Union and the United States to “find a deal across the Atlantic Ocean immediately create growth and prevent a spiral of isolation and commercial barriers.”
BMW, Mercedes-Benz and Volkswagen About 73 percent Among the European Union car exports to the United States, according to L. a report From Jato Dynamics, a research company.
Gato said in the report that Mexico is the largest country of cars created by Volkswagen, the largest auto manufacturer in Europe. But the European Union is the largest country of origin for Mercedes -Benz cars sold in the United States.
The possibility of the War War set will have widespread effects. “The effects of this step are clearly harmful, and they are likely to lead to more revenge and second procedures by the affected countries,” analysts in Bernstein said in a note to customers.
Analysts pointed out that European auto manufacturers have a limited ability to expand production in their American factories to avoid tariffs, so they face the choice of absorbing the cost of definitions or passing them to consumers. They wrote that prices may rise to $ 12,000 per car, and “the resulting inflation may pressure the Trump administration to decline.”
Barclays analysts said in a research note this month before announcing the customs tariff that Porsche, a unit of Volkswagen, imports all its cars sold in the United States and will be more sensitive to the definitions of its European counterparts.
But the definitions will have a little effect on the summary of a luxury brand like FerrariThat makes all its cars at its factory in Maranilo, Italy. The auto manufacturer said on Thursday Price From some models up to 10 percent to compensate for the cost of definitions.
The European Automobile Manufacturers Association said in a statement that Mr. Trump’s tariff strikes the European auto industry at a time when it faces a shift and increased international competition.
“European auto manufacturers have been investing in the United States for decades, creating job opportunities, enhancing economic growth in local communities, and generating huge tax revenues for the US government,” said the group’s general manager, Sigrid de VRIES.
Hildgard Muller, head of the German lobby group VDA, described the definitions as a “deadly sign of free trade and bases.”
“The danger of World War War, with negative consequences for the global economy, growth, prosperity, jobs and consumer prices is very high,” said Ms. Muller in a statement.
Melissa Edi The reports contributed.
