The German Automotive Industry Association, VDA, has said that the new US tariffs imposed by the US government “will only create losers”; with US consumers particularly hard hit.
The VDA said this in a statement on Thursday hours after President Donald Trump made an announcement of new tariffs for countries worldwide.
VDA called on the European Union, EU, “to act together and with the necessary force, while continuing to signal its willingness to negotiate.”;
VDA, which represents the powerful German auto industry, said the tariff was a clear signal that America has departed from the rules-based global trade order.
“This is not America first; this is America alone,” the statement added.
The VDA also urged the European Union to speed up free trade deal negotiations with other countries, arguing that the bloc must be an “advocate for free and fair global trade. ”;
It further called on the incoming German government to take a leading role in such talks.
DAILY POST monitored President Trump's announcement of across different continents on Wednesday.
Speaking at the White House Rose Garden on “Liberation Day,” Trump assured that the new levies would have a positive impact on America.
