Germany states that “won’t give” if Trump announces 25% tariffs to the car

Germany said it “will not give” and that Europe should “firmly respond”, as US President Donald Trump is aimed at imported cars and vehicles with 25% tax in its latest tariffs.

Other major world economies have promised to avenge when France branded the “very bad news” step, Canada calls it a “immediate attack” and China is charged with Washington of violating international trade rules.

Early Thursday stock in Frankfurt for Porsche, Mercedes and BMW fell sharply together with the French firm Stellantis, producer Jeep, Peugeot and Fiat.

Trump threatened to impose “much greater” tariffs when Europe works with Canada to do what it describes as “economic damage” for the United States.

April 2 will come into force fresh tariffs on the carwith accusations that the enterprises import vehicles that start the next day. Taxes should start in May or later.

Trump has long supplemented that tariffs are part of the desire to help us produce and say that when cars are made in America, there is “absolutely no tariff”.

Tariffs are taxes that are charged for goods imported from other countries.

While measures can protect the domestic business, they also increase the costs for businesses that depend on the parts from the border.

Companies that bring foreign goods to the country pay the government tax. Firms can choose for customers some or all costs on tariffs.

Last year, the United States imported about eight million vehicles – approximately $ 240 billion (186 billion pounds) in trade and about half of total sales.

Mexico is the main supplier of cars in the US and then South Korea, Japan, Canada and Germany.

Analysts have estimated that tariffs for parts of Canada and Mexico can lead to a cost of $ 4,000-10,000 depending on the car, anderson Economic Group reports.

German Economy Minister Robert Habek said the European Union should “respond firmly”.

“It must be clear that we are not succumbing to the US. We need to show strength and confidence,” he added.

France supports this joint approach, with its finance minister Eric Lombard states that Europe’s “one decision” is a revenge on the US products.

‘We are in a situation where we are aiming at

He emphasized the need to “balance game conditions”, so the US was “forced to negotiate”.

Canadian Prime Minister Mark Karnya called the tariffs “direct attack” on his country and her car industry, adding that “will harm us” but discussed the options.

In the UK, the SMMT automotive authority said the Trump tariff announcement was “not surprising on Wednesday, but nevertheless is disappointing.”

UNIPRS founder John Neil said Trump’s tariffs were a “gift to the Chinese” because international consumers will respond to a trade war when buying Chinese alternatives.

Meanwhile, China has accused Trump of violating the rules of the World Trade Organization.

“There are no winners in the trade war or the tariff war. No development of the country has been achieved through tariffs,” the press secretary of the Ministry of Foreign Affairs said.

From Japan there is warnings that there will be a “significant impact” on the economic relations he shares with the United States. The Government’s press -secretary described measures as “extremely sorry” and stated that the officials asked the United States to release.

In South Korea, the day before the last collection, Hyundai announced that the US deposit is $ 21 billion (£ 16.3 billion) And build a new steel factory in Louisiana.

Trump accepted the investment as “a clear demonstration that the tariffs are very working”.

Bosch – founded in Germany – says he has confidence in the “long -term potential” in the North America market and will continue to expand its business there.