German auto sector could drop as much as 12% if Trump announces tariffs, analyst says.
Gee, I wonder if there is anything the Germans/Europeans could do to prevent that from happening? I dunno. How about like maybe lowering their tariffs? Just thinking out loud here, people.
Germany’s automotive sector could fall as much as 12% over “three bad trading days,” if President Donald Trump imposes tariffs on European car manufacturers, one analyst told CNBC.
Trump has until Friday midnight (Washington time) to decide whether to impose duties on car imports. This would likely hurt Germany, the EU’s traditional growth engine, given that it is one of the largest direct car exporters to the U.S.
“If indeed we get U.S. car tariffs on imports from the euro zone — not just their announcement, you could forget our economic forecasts completely. No chance of a sustained pick-up in activity throughout the second half as we expect.”