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EU Urges Avoidance of US Tariffs

EU auto and steel industries warn against potential 10% tariffs from the US, highlighting the economic risks and calling for dialogue to prevent a trade war.

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United States

International RelationsEconomyEuropean UnionTradeTariffsIndustry

Vda (German Automotive Association)VolkswagenEurofer (European Steel Association)Eu CommissionUs Government

Donald TrumpSimon SchuetzUrsula Von Der LeyenJoe BidenAxel Eggert

What is EUROFER's position on the current situation and future negotiations?: EUROFER, the European steel association, highlights the need for continued negotiations to avoid a return to 25% tariffs on European steel. They also emphasize the importance of convincing the new US president about climate goals in steel and aluminum production.
What is the main concern of the EU auto and steel industries regarding the US?: The EU auto and steel industries are urging the avoidance of potential 10% tariffs from the Trump administration. These tariffs could severely undermine the EU's economic growth and impact sectors like the German auto industry.
What is the status of the steel and aluminum tariffs issue between the EU and the US?: The unresolved issue of tariffs on steel and aluminum, imposed by the previous Trump administration, further complicates the situation. These tariffs have already reduced exports, and ongoing negotiations have stalled.
What are the specific challenges facing the German auto industry beyond potential US tariffs?: The German auto industry, already facing challenges like factory closures and job losses due to the transition to electric vehicles, would be significantly harmed by added US tariffs. The VDA is calling for dialogue to prevent this.
What are the potential consequences of an escalating trade conflict between the EU and the US?: Both the auto and steel industries express concern that new tariffs would trigger retaliatory measures from the EU, leading to a broader trade conflict. Cooperation between the US and Europe is seen as crucial given geopolitical challenges.

Jan 22, 10:07

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