American cars are a nische product in Germany. Besides the high consumption of the larger motors, they simply don't cater to the European taste. The 10 percent import tariff is not the only extra cost for those who want to buy them.
The imminent US tariffs on Chinese goods are expected to throw up some unexpected winners in Europe, a study shows. The gains for the European countries are only likely to increase if China chooses to retaliate.
The Bundesbank has warned that a slump in the German economy could have continued over the summer. It cited the US-China trade war as one factor weighing on German exports.
Although Washington postponed a new round of tariffs on Chinese exports, Beijing has targeted US cars, oil and food. President Donald Trump went on a Twitter tirade after the Chinese announcement.
Stock markets in the United States have dropped sharply after the Treasury yield curve temporarily inverted for the first time in 12 years. The news signals growing investor fears of a recession.
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