German car makers brace for further Trump administration tariffs
Germany is anticipating a trade war as President Donald Trump prepares a raft of punitive tariffs. How will the country's car manufacturers be affected?
READ MORE : http://www.euronews.com/2025/04/01/german-car-makers-brace-for-further-trump-administration-tariffs
Subscribe to our channel. Euronews is available on Dailymotion in 12 languages
Germany is anticipating a trade war as President Donald Trump prepares a raft of punitive tariffs. How will the country's car manufacturers be affected?
READ MORE : http://www.euronews.com/2025/04/01/german-car-makers-brace-for-further-trump-administration-tariffs
Subscribe to our channel. Euronews is available on Dailymotion in 12 languages
Category
🗞
NewsTranscript
00:00US President Donald Trump is expected to announce further tariffs this week in addition to the
00:0525% tariffs on imported cars and car parts he already announced.
00:11As the EU's largest car exporter to the US, Germany risks suffering economic losses in
00:16the billions.
00:17The German Association of the Automotive Industry, VDA, says that US factories rely on supplier
00:24networks especially in Canada and Mexico.
00:27If these tariffs come, we will see how the manufacturers and suppliers deal with it.
00:32But of course it cannot be ruled out that it will be more expensive, especially for US
00:37consumers.
00:38And in the long term, especially if it escalates, it will cost growth and prosperity and possibly
00:43jobs on both sides of the Atlantic.
00:45They are at our disposal and it is all the more important to find a solution now.
00:49German car manufacturers are very active in the US market, employing over 140,000 people
00:55in the US and producing more than 900,000 cars there each year, half of which are exported.
01:26Aldi told Euronews in a written statement that the Volkswagen Group, to which it also
01:36belongs, is counting on constructive dialogue being held between trade partners to ensure
01:41economic stability and avoid trade conflict.
01:44The car manufacturer underlines the importance of the transatlantic relationship with the
01:48US and said it has recently invested 14 billion euros into the market.
01:54But as Trump flip-flops between announcing tariffs and then pausing them, markets are
01:59responding with volatility.
02:01The threat of a trade war is sparking fears that another recession could be on the horizon.
02:06Liv Stroud, in Berlin, for Euronews.