Germany has urged the European Union to respond firmly to President Trump’s 25 percent tariffs on cars and car parts, which will go into effect on April 3 and impact automakers like BMW, Mercedes-Benz, and Volkswagen. European officials, including Germany’s economy minister and France’s finance minister, have criticized the move, warning of negative consequences for global trade. The European auto industry, facing increased competition and transformation, is concerned about the potential for a trade war and its impact on jobs, economic growth, and consumer prices.
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Stock Markets Slide After Trump Unveils Tariffs
Global markets tumbled after President Trump announced 10 percent tariffs on all U.S. trading partners except Canada and Mexico, with even higher tariffs on other main partners, causing futures on the S&P 500 to slump over 3 percent. Asian markets also fell sharply, with benchmark indexes dropping over 3 percent in Japan, and nearly 2 percent in Hong Kong and South Korea. The surprise scale of the tariffs has left analysts questioning the basis for...
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