Trump introduces 25 percent duties for all imported cars

The new round of trade warfare threatens the serious consequences for the European auto industry, says Politico. Especially sensitive will be a blow to the economies of Germany, Italy, Hungary and Poland. The new duties announced by Donald Trump should enter into force on April 2 of this year.

Politico notes that the US market accounts for more than one fifth of cars exported from the European region. Probably, the volume of deliveries will have to be adjusted, since the increase in the cost of each vehicle imported into America will seriously affect demand.

The White House said that new duties apply to “cars and light trucks of foreign production” and complement the current ones. In addition to cars, they will affect wood and semiconductors imported in the United States. In addition, in May, the list of taxable goods will include car parts, including engines, transmission and electrical components.

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The American president also threatened to tighten tariffs if the European Union and Canada unite to give a rebuff.

The auto industry of Europe is already no better than times. Auto giants one by one announce plans to save and reduce personnel. They are pushed to this falling sales and the heyday of Chinese competitors, offering more affordable electric cars.

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