Germany has said it “will not give in” and that Europe must “respond firmly” as US President Donald Trump targets imported cars and car parts with a 25% tax in his latest tariffs.
Other major world economies have vowed to retaliate, with France’s president branding the move “a waste of time” and “incoherent”, Canada calling it a “direct attack”, and China accusing Washington of violating international trade rules.
Carmaker stocks from Japan to Germany dipped. In the US, General Motors dropped 7%, while Ford fell more than 2%.
Trump has threatened to impose “far larger” tariffs if Europe works with Canada to do what he describes as “economic harm” to the US.
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Source: https://www.bbc.com/news/articles/cy4vjwzv22eo
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