Impending trade war
Trump announces customs of 25 percent to cars – EU reacts
25 percent – for cars and all other things: with this announcement to new tariffs, Donald Trump confronts the EU. Companies lose value on the stock exchanges. Does the trade war begin?
The EU has announced a decisive answer to the special tariffs announced by US President Donald Trump on the import of cars and other goods from Europe. A spokesman for the responsible EU Commission in Brussels said that they will react immediately to unjustified obstacles to free and fair trade. This applies in particular if tariffs are used to question a lawful and non -discriminatory policy.
Trump had previously announced in Washington to have made a decision on the introduction of new import tariffs on goods from the EU. These should be made public very soon. Then he pushed: “There will be 25 percent, generally spoken, for cars and all other things.” Trump accused the Europeans again to take advantage of the United States. The EU was founded “to pull the United States over the table”. This is “the purpose” of the EU, he said.
EU rejects Trump’s claims
This view was rejected by the EU with clear words. The European Union is the largest free market in the world – and a “blessing” for the United States, said a spokesman for the Commission. By creating a large and integrated internal market, the EU has made it easier to trade, reduced the costs for US exporters and harmonizes standards and regulations in 27 countries. As a result, US investments in Europe are extremely profitable.
“American companies were able to invest and achieve considerable income – precisely because the EU is a large, uniform market,” said the spokesman. This is also a crucial reason why the transatlantic trading volume with goods and services is now $ 1.5 trillion annually. The United States and the EU have the largest bilateral trade and investment relationship in the world.
He said to the address of the US government: “We should work together to keep these opportunities for our people and companies-do not work against each other.” One is ready for cooperation – provided the rules were observed.
Stock -up courses of car manufacturers decrease
On Thursday, the courses from affected companies fell on the stock exchanges. Porsche AG and BMW were temporarily at the rear with discounts of 2.3 percent each. Stellantis lost three percent in the Eurostoxx. The announcement of the tariffs on European goods, in particular to the car sector, shook the fear of a new transatlantic trade war with considerable economic consequences for both sides, said Julian Hinz, research director for trading policy at the Kiel Institute for World Economy.
dpa
Source: Stern
