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Donald Trump's trade threats alarm German carmakers, hit investor morale

Analysts fear a full-blown trade war between the United States and Europe could cut growth in Germany, the biggest EU economy, by up to 1 percentage point

Reuters  |  Frankfurt/Berlin 

German car companies urged policymakers on Monday to avoid a trade war with the United States "at all costs" after U.S. President Donald Trump threatened to tax car imports from the European Union. The United States is the second-biggest export destination for German auto manufacturers after China, while vehicles and car parts are Germany's biggest source of export income. "Punitive duties can't be the answer," Bernhard Mattes, president of Germany's VDA automotive industry association, said in a statement. "A trade war between the USA and ...

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First Published: Tue, March 06 2018. 01:08 IST
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