German carmakers caught in crossfire of US-China trade row
Reuters
China’s proposed 25 percent tax on US car factory exports will hit nearly 270,000 vehicles, with German carmakers accounting for 7 billion US dollars of the 11 billion total, writes the news agency Reuters. “This is a tax on southern Germany, not the US,” analysts at Evercore ISI told Reuters. “A 25 percent additional auto tariff would represent a 1.73 billion US dollar negative tariff impact directed at southern Germany by China,” they said.
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