EU Warns of ‘Severe Disruption’ as Trump Threatens Car Tariffs
- Auto levies could lead to the loss of 180,000 U.S. jobs
- Tariffs would be a ‘terrible’ scenario for German carmakers
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The introduction of U.S. tariffs on European Union automobiles and car parts could affect $300 billion in trade and damage nearly all of the bloc’s 28 member states, according to an EU report.
Duties of 25 percent “could be expected roughly to reduce U.S. imports of car and car parts in half,” the European Commission wrote in a memo obtained by Bloomberg. “An introduction of U.S. tariffs would be met with equivalent penalties imposed by affected trading partners.”