AdvertisementThe head of Germany’s auto industry association, VDA, said the tariffs would weigh on car makers and every company in the deeply interwoven global supply chain “with negative consequences above all for consumers, including in North America.”“The consequences will cost growth and prosperity on all sides,” Hildegard Müller said in a statement. The U.S. is the biggest export destination for the European auto industry and in 2023, European automakers exported 56 billion euros worth of vehicles and parts to the U.S.. Europe’s auto industry supports 13.8 million jobs, or 6.1% of total EU employment. Any trouble in the auto industry would weigh on the European economy that did not grow at all in the last quarter of 2024 and just 0.9% for the entire year. Support HuffPost Already contributed? AdvertisementGerman auto association head Müller called for immediate negotiations between the EU and U.S. on a bilateral agreement that would offer “a forum to discuss the various tariff and non-tariff barriers for automobile products and could lead to a more balanced approach.”

Source: Huffington Post March 27, 2025 15:57 UTC