May 17, 2019 / 8:39 AM / 5 months ago

DIHK: U.S. auto tariffs of 25% could cost German economy 6 billion euros a year

BERLIN (Reuters) - If the United States imposes further tariffs of 25% on imports of cars and car parts, it could cost the German economy an extra 6 billion euros ($6.71 billion) a year, the managing director of Germany’s DIHK Chambers of Commerce said on Friday.

“But ultimately this would not only affect German manufacturers, but also consumers in the United States,” Martin Wansleben said in a statement.

U.S. President Donald Trump is expected to delay a decision on imposing tariffs on imported cars and parts by up to six months, three Trump administration officials told Reuters, avoiding opening yet another front in his global trade battles.

Reporting by Reinhard Becker; Writing by Michelle Martin; Editing by Tassilo Hummel

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