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- Proposed U.S. tariffs could halve German car exports to U.S - Ifo institute
Proposed U.S. tariffs could halve German car exports to U.S - Ifo institute
Study by the German Ifo institute showed, proposed 25% import tariffs on cars by the United States could cut German car exports to the U.S. by up to 50% in the long-term and heavily affect exports to other countries.
“These tariffs would cut total car exports from Germany by 7.7%, which would amount to 18.4 billion euros,” Gabriel Felbermayr, foreign trade expert at Ifo, said.
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