Europe, Trump and Automobile Manufacturers' association
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The New York Times |
European leaders have said they would prefer to negotiate. If that fails, their response could go beyond anything they’ve tried before.
Detroit News |
Trump has signaled for weeks he wants to impose sizable tariffs on many imports to the United States.
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Volkswagen AG plans to add import fees to the sticker prices of its vehicles shipped into the US, indicating Donald Trump’s 25% auto tariffs will have an immediate effect on Europe’s biggest carmaker.
European carmakers are trying to work out how much their prices might have to rise in response to looming U.S. import tariffs, industry sources said.
Global markets and businesses were thrown into disarray by U.S. President Donald Trump’s tariff announcements on Thursday.
European stocks suffered their worst day in eight months after US President Donald Trump announced the steepest tariffs in a century, including a 20% rate for the European Union.
The Trump administration is enacting a 25% tariff on imported vehicles, which could drive up car prices by more than $10,000.
President Donald Trump announced far-reaching new tariffs on nearly all United States trading partners Wednesday, raising concerns about triggering broader trade wars and higher prices on goods from automobiles to canned beer to furniture and toys.
U.S. president Donald Trump’s latest announcement of reciprocal tariffs has reignited investor concerns about the auto sector, with Bernstein warning of growing risks to both U.S. and European manufacturers.
Shares of some of the world's biggest automakers appeared surprisingly resilient on Thursday, even after U.S. President Donald Trump's 25% tariffs on foreign auto imports came into effect. Analysts and economists said the relatively muted response from autos stocks could be partly attributed to an exemption for Canada and Mexico from Trump's highly anticipated "reciprocal" tariffs announcement.