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US tariffs on imported vehicles could have a huge impact on EU manufacturers. And not only in them, also in the economies of the countries with a significant weight in this sector, as it is the case in Germany.
"For Germany this would mean, in the case of 20% tariffs, that the figures vary between 20 and 25%, the economic damage to Germany would rise to around 6,000 million "euros," says the president of the German Chamber of Commerce, Eric Schweitzer.
Trump has been criticized in his country for tariffs on imported vehicles and auto parts. Alliance of car manufacturers, the price of new cars would increase, which would weaken the demand.
"You should cut the production of your factories, the workers should be fired, the supplier should dismiss people and also," says Michelle Krebs, Analyst at AutoTrader.com
The US auto industry has asked Donald Trump not to pursue his pricing policies as this would severely damage the industry and result in retaliation.
"C & # Is like exacerbating the push or accelerating the push of the US industrial center towards China, China will be even more important than now, if that happens, "says Rick Johnson, editor of Automotive News.
According to a report by the Peterson Institute, tariffs would destroy nearly 200,000 jobs in the United States over the next three years. If other countries responded by imposing tariffs, this figure could reach 624,000 jobs.
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