FRANKFURT (Reuters) - German carmakers said on Monday that a trade war between the United States and Europe must be avoided, expressing their profound concern after U.S. President Donald Trump threatened to tax car imports.
“Punitive duties can’t be the answer,” Bernhard Mattes, president of Germany’s VDA automotive industry association, said in a statement.
“A trade war between the USA and Europe must be avoided at all costs. In such a trade war there are only losers on all sides.”
Reporting by Ilona Wissenbach; Writing by Douglas Busvine; Editing by Maria Sheahan