The EU nation’s automotive industry has already been battered by rising costs and falling demand
Germany’s leading carmakers are set to lose over €10 billion ($11.6 billion) in cash flow this year due to US trade tariffs, according to a study cited by the Financial Times. The industry is already contending with soaring energy costs, falling sales, and intensifying competition from China.
The US is Germany’s top foreign market but the latter’s car industry has been among the hardest hit by President Donald Trump’s sweeping tariffs. In March, Trump imposed a 25% tariff on foreign-made vehicle imports. After months of talks, the EU and US reached…
Read the full article at RT.COM
