German Minister of Economic Affairs Peter Altmaier cannot predict the outcome of the EU-US trade dispute. But time is running out – the EU states are only exempt from the tariffs on steel and aluminum imposed by US President Trump until June 1st.
Global trade tensions have been brewing for months with tariffs and counter-tariffs flying between the US, China and several other countries. The US government has now challenged some of the tariffs at WTO level.
For months, talk of a trade war between the United States and China has been rampant. That talk became reality overnight when major US tariffs against Chinese goods came into effect.
Donald Trump doesn't want to see any more BMWs or Mercedes on Fifth Avenue in New York. To that end, he has made different, partly contradictory threats and offers in the trade conflict with the EU. Will it work for him?
The threat of steeper US tariffs on EU-assembled vehicles could lead to a global trade war. German automakers, which produce more vehicles in the US than they export there, are in the Trump administration's crosshairs.
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