German Chambers of Commerce: US auto tariffs of 25% could cost German economy 6B Euros a year

Martin Wansleben, Managing Director of Germany’s DIHK Chambers of Commerce said in a statement on Friday, the German economy could lose an extra 6 billion Euros ($6.71 billion) a year should  the US impose further tariffs of 25% on imports of cars and car parts, Reuters reports.

Wansleben noted: “But ultimately this would not only affect German manufacturers, but also consumers in the United States.” 

On Wednesday, Reuters quoted three Trump administration officials, citing that the US President Trump is expected to delay a decision on imposing the auto tariffs on the EU and Japan by up to six months.