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German Automotive Industry Calls For Tariff Talks With US Admin.
(MENAFN- Kuwait News Agency (KUNA))
BERLIN, March 27 (KUNA) -- The German automotive industry called Thursday for immediate talks with the US administration regarding the trade barriers imposing a 25 percent tariff on cars imported from abroad.
In a statement, German Association of the Automotive Industry President Hildegard Muller, said that the tariffs scheduled to take effect in early April place a burden on German car and auto parts manufacturers, and global supply chains due to their interconnectedness.
She warned that these tariffs would have negative consequences for consumers, adding that the obstacles will also be severe for economic growth for all parties involved in the manufacturing, import, and supply chain processes.
Muller called for necessary talks with the US as soon as possible, noting that 86 German car and auto parts manufacturers expect these tariffs to negatively impact their future performance.
It is worth noting that the US market ranks first in terms of the most important markets for German companies of all kinds. (end)
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In a statement, German Association of the Automotive Industry President Hildegard Muller, said that the tariffs scheduled to take effect in early April place a burden on German car and auto parts manufacturers, and global supply chains due to their interconnectedness.
She warned that these tariffs would have negative consequences for consumers, adding that the obstacles will also be severe for economic growth for all parties involved in the manufacturing, import, and supply chain processes.
Muller called for necessary talks with the US as soon as possible, noting that 86 German car and auto parts manufacturers expect these tariffs to negatively impact their future performance.
It is worth noting that the US market ranks first in terms of the most important markets for German companies of all kinds. (end)
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