The Association of International Motor Vehicle Manufacturers (VDIK) is deeply concerned about the impact of the comprehensive tariffs announced yesterday by President Trump. The USA is thus heralding the end of the global trade order based on reducing protectionism and barriers to market entry.
“The tariffs announced by US President Trump are poison not only for the globally oriented automotive industry, but for global trade as a whole. The consequences will be felt on all markets. The tariffs will make imports into the USA more expensive, turn supply and trade chains upside down and weaken consumption. American consumers in particular will initially have to pay for this with a rise in inflation and a weakening of the dollar,” says VDIK President Imelda Labbé.
“Open trade is the prerequisite for economic growth. Tariffs and trade barriers lead to losers on both sides and come at the expense of investment, innovation and jobs. In addition, President Trump’s unpredictability is leading to uncertainty and a loss of confidence worldwide. We now expect the EU, but also the WTO and all affected countries around the world, to send clear signals and take measures to secure and restore the liberal world trade order, ideally including the USA.
This also provides a clear mandate for the ongoing coalition negotiations between the CDU/CSU and SPD. This bombshell must wake up the three parties so that they can finally initiate fundamental reforms to strengthen Germany as a business location and create the urgently needed framework conditions for e-mobility,” continued Labbé.
