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German car industry warns US tariffs will harm consumers

( February 19, 2025, 16:28 GMT | Official Statement) -- MLex Summary: Donald Trump’s announcement to impose 25 percent tariffs on automobile imports will lead to “consumers having to pay more in the end,” Germany’s automotive association VDA warned today. The lobby group issued a statement saying that starting a tariff spiral “will cost growth and prosperity — on both sides of the Atlantic.” VDA recalled that German companies account for 138,000 workers in the US, with over 900,000 vehicles produced. The lobby calls for the EU and the US to negotiate swiftly to avoid the tariffs entering into force.Full statement follows....

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