Germany says it “will not give up” because Trump announces a 25 % tariff

Germany said it “will not give up” and that Europe should “respond firmly” because US President Donald Trump targets imported cars and auto parts with a tax of 25 % in the latest customs tariff.

Other major economies of the world pledged revenge, as France described this step “very bad news”, describing Canada as a “direct attack”, and China accuses Washington of violating international trade rules.

Early on Thursday, Frankfurt’s shares fell in favor of Porsche, Mercedes and BMW sharply alongside the French company Stellantis, Jeep maker, Peugeot Fiat.

Trump threatened to impose a “much larger” tariff if Europe is working with Canada to do what he describes as “economic damage” to the United States.

Fresh car activities will enter into force on April 2With fees for companies that import vehicles that start the next day. Taxes are set on parts to start in May or later.

Trump has long maintained that the customs tariff is part of a campaign to help us manufacturing and says if the cars are made in America will “will not be a tariff at all.”

Customs duties are taxes imposed on goods imported from other countries.

While measures can protect local companies, they raise the costs of companies that depend on spare parts from abroad.

Companies that bring foreign goods to the country pay the tax to the government. Companies may choose to transfer some or each cost of definitions to customers.

The United States imported about eight million cars last year – which represents about 240 billion dollars (186 billion pounds) in trade and about half of the total sales.

Mexico is the highest resource for cars to the United States, followed by South Korea, Japan, Canada and Germany.

Analysts estimated that the customs tariffs on the parts of Canada and Mexico can lead to high costs by 4000 to 10,000 dollars depending on the car, according to Anderson Economic Group.

German Economy Minister Robert Habik said that the European Union should “respond firmly.”

“It should be clear that we will not surrender to the United States. We need to show strength and self -confidence,” he added.

France supports this joint approach, with Finance Minister Eric Lombard, saying that “the only solution” for Europe is to take revenge on the customs tariff for American products.

“We are in a position in which we are targeting. Either we accept it, and in this case this will never stop, or we respond.”

He emphasized the need to “rebalance the field”, so the United States was forced to negotiate.

Canadian Prime Minister Mark Carney described customs duties as a “direct attack” on his country and the auto industry, adding “will harm us”, but commercial options were discussed.

In the UK, the Automobile Industry Authority said that the announcement of Trump’s definitions on Wednesday “was not surprising, however, disappointing.”

The Founder of the Uniparts John Neil said that the Trump tariff was a “gift for the Chinese”, because international consumers will respond to a commercial war by buying Chinese alternatives.

Meanwhile, China accused Trump of violating the rules of the World Trade Organization.

A Foreign Ministry spokesman said: “There are no winners in a commercial war or an introductory war. The development and prosperity of any country has not been achieved by imposing a customs tariff,” said a spokesman for the Ministry of Foreign Affairs.

There are warnings from Japan that there will be a “great impact” on the economic relationship it shares with the United States. The government spokesman described the measures as “very unfortunate” and said that officials had asked the United States to exempt.

In South Korea, a day before the last tax, Hyundai announced that it will invest $ 21 billion (16.3 billion pounds) in the United States And the construction of a new steel factory in Louisiana.

Trump praised the investment as a “clear demonstration that works very strongly”.

Bush, based in Germany, says she has confidence in the “long -term capabilities” of the North American market and will continue to expand her business there.