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Impact of US Tariffs Varies Across European Union | Fox 11 Tri Cities Fox 41 Yakima
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Germany welcomes the EU-US tariff agreement, but points out the problems for exporters with the high basic tariff on critical sectors such as the automotive industry.
The newly announced framework, under which most EU goods heading to the US would face 15% tariffs, has received mixed reactions from most European political leaders. While German Chancellor Friedrich Merz praised the reduction of car tariffs by almost half, another German politician, the chairman of the People's Party in the European Parliament, Manfred Weber, said that the agreement only "limited the damage," although it was better than many ha…
The tariff reduction is part of a comprehensive trade agreement between the EU and the US.
The tariffs agreed between the European Union and the United States will reduce Germany's GDP by 0.15% within a year and cause losses of 6.5 billion euros, the Kiel Institute estimates. The consequences for the European economy will also be felt. The Kiel Institute for the World Economy (IfW) calculated exclusively for Handelsblatt the short-term effects of the general tariffs of 15% and 50% on steel and aluminum, and predicts: Loss of 6.5 bill…
Impact of US tariffs varies across European Union | Fox 11 Tri Cities Fox 41 Yakima
US President Donald Trump announced on Sunday that the United States was imposing 15-percent tariffs on all European Union countries. These countries are not all equally exposed to the US market and so will not suffer the same consequences when the duties kick in on August 1. In terms of value, Germany is by far
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