No surprise
The German Minister of Economic Affairs, Katherina Reiche, Has Welcomed the Decision by the United States to Reduce Their Import Tariffs on European Cars and Auto Parts. However, She Warned that the Tariffs Remain “A Significant Burden” for Manufacturers and Suppliers.
The US reduced the American import tariffs or 27.5 percent on cars and car parts from the European Union to 15 percent on Wednesday. The Measure Applies Retroactively Since August 1. In Return, The Eu Agreed To Allow American Cars Without Import Tariffs.
Reiche Said that the Reduction Means That Car Manufacturers Can Plan More Reliably, But also Pointed to Increased Protectionism and Global Overcapacity. Germany Must Regain its competitiveness, She Stated. “The Current Situation Makes One Thing Clear: Germany Must Do Its Homework. The Seas Have Become Rough and We Must Make Our Ship Seaworthy Again.”