Daily Management Review

Days Before EU - U.S. Meeting, US Warned On Tariffs By German Industry Groups


07/22/2018




Days Before EU - U.S. Meeting, US Warned On Tariffs By German Industry Groups
The United States itself would be harmed because of the tariffs on iron and steel already imposed by the US President Donald Trump or the ones that he has threatened to impose, warned German industry groups on Sunday – days before a scheduled meeting between Trump and the European Commission President Jean-Claude Juncker in Washington next week.
 
While the Trump administration has already imposed 25 per cent and 10 per cent tariffs on steel and aluminum on the imports of the metals form the European Union from June 1 and has additionally threatened to impose import tariffs on cars and auto parts imported from the EU to the extent of 25 per cent on the pretext that such imports into the country threatens the internal security of the US. The matter is being considered and investigated by the Commerce department of the US which is to remake recommendations on whether to impose the tariffs based on its findings of whether such imports threatens internal security of the US.
 
These issues and other issues related to trade would be discussed by Juncker. Trump has said that EU leaders are visiting Washington to talk about the threatened car tariffs.
 
The continuation of discussions between the EU and the United States is a sensible thing, said Dieter Kempf, head of Germany’s BDI industry association in an interview to the Welt am Sonntag newspaper.
 
“The tariffs under the guise of national security should be abolished,” Kempf said. He added that the fact that the United States itself would be harmed by imposing import tariffs on cars and car parts needs to be clearly communicated to Trump by Juncker.
 
He said that over 118,000 people have been employed in the US by the German auto industry and at least about 60 per cent of the output of the German auto industry in the US is exported out of the country top other countries.
 
“Europe should not let itself be blackmailed and should put in a confident appearance in the United States,” he added.
 
Expectations about the degree of what is achievable have been lowered by EU officials even as they have downplayed suggestions and indications by some sections that Junker is travelling to Washington with a novel plan that would help normalize relations between the two parties.
 
The attempt by Junker to try and convince the U.S. government to refrain from imposition of tariffs cars was welcomed by Eric Schweitzer, president of the DIHK Chambers of Commerce, during an interview with the Welt am Sonntag newspaper.
 
“All arguments in favor of such tariffs are ... ultimately far-fetched,” he said.
 
 Schweitzer said that the assumption of the continued existence of open markets have been the driving force for the German economy for decades along with a reliable global trading system. but talking about the current situation, he said: “Every day German companies feel the transatlantic rift getting wider.”
 
(Source:www.reuters.com)






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