Research

Trump Trade War - Germany rejects proposed tariffs

Trump Trade War - Germany rejects proposed tariffs

Malmstrom said Europe wanted "to retaliate but not escalate" a new trade war, but any response from the European Union "is likely to provoke further action by the US", says the BBC.

"Such measures would inflict pain on worldwide trade flows and our industry, but above all hurt workers and consumers on both sides of the Atlantic".

"We will not sit idly when European industry and jobs are threatened", European Commission chief Jean-Claude Juncker said.

The European Union aims to target €2.8 billion ($3.5bn) of United States goods ranging from T-shirts to motorcycles and ladders should President Donald Trump go ahead with his plan to impose a 25 per cent tariff on foreign steel, Bloomberg reported on Tuesday.

"I think the American government knows that in the past we had agreements like NAFTA that shouldn't just be destroyed on a whim", Volkswagen CEO Matthias Mueller said in an interview with Bloomberg TV.

In the latest tit-for-tat with the European Union, Trump warned over the weekend that he could tax European cars, which "freely pour" into the USA, creating a "big trade imbalance".

More news: Google unveils new quantum computing processor called Bristlecone

The EU's response matches similar moves during a 2003 "steel war" unleashed by George W. Bush's administration - which prompted the U.S. to back down before the EU carried out its threat.

The European Commission, the executive arm of the EU, has compiled a list of goods on which to impose retaliatory tariffs, including American motorcycles and bourbon. Trump said if the European Union "wants to further increase their already massive tariffs and barriers on U.S. companies. we will simply apply a tax on their cars". "In such a trade war there are only losers on all sides".

"We support open markets and free trade where everyone plays by the rules".

The automobile industry is Germany's largest sector, employing roughly 800,000 people across the country and many thousands more around the world.

German exports amounted to 494,000 cars previous year - a fall of a quarter since 2013.

Trump's threat to launch a trade war has encountered resistance from fellow Republicans, including Senator Lindsey Graham of SC, where a BMW plant employs 9,000 workers.


  • Quinton de Kock's sister fires back after alleged David Warner sledge

    Quinton de Kock's sister fires back after alleged David Warner sledge

    Australia's last five wickets fell for a total of 166 runs overs the two innings, while South Africa could muster only 27 runs over the same period.
    AMD's eSports push improves performance in 'PUBG' and 'Dota 2'

    AMD's eSports push improves performance in 'PUBG' and 'Dota 2'

    It looks like the newest RSCE offers ReSX tweaks for Dota2, and for others it will be " rolling into games in the coming weeks ". I know this because this driver warranted an overarching moniker, Project ReSX (for " eSports eXperience").
    Bill Evans: RBA just capitulated on growth

    Bill Evans: RBA just capitulated on growth

    The Reserve Bank of Australia (RBA) expects the country's gross domestic product to "grow faster in 2018 than it did in 2017". Inflation is likely to remain low for some time, reflecting low growth in labour costs and strong competition in retailing.
  • BMW M8 Gran Coupe Concept

    BMW M8 Gran Coupe Concept

    It was an astonishing reimagining of the seminal coupe, and the M8 Gran Coupe displayed at Geneva exemplifies that design. The long hood, stretched wheelbase and short tail all suggest that this auto means business.
    BJP Win In Tripura An Ideological Victory: Modi

    BJP Win In Tripura An Ideological Victory: Modi

    Speculations are also rife that since the BJP has won 35 seats, enough to form government on its own, would like to reserve key ministries for its MLAs.
    Politicos react to BSP-SP alliance

    Politicos react to BSP-SP alliance

    She said her sole objective was to defeat the BJP and hence she was supporting the most probable candidate - that was from the SP. However, earlier in the day, SP leader Sunil Singh Yadav said that the Mayawati-led party does not contest by-polls.
  • Range Rover SV Coupe Removes Two Rear Doors for More Style

    Range Rover SV Coupe Removes Two Rear Doors for More Style

    The standard audio system is a 1,700-watt, 23-speaker Meridian setup that will probably blow your (two) doors clean off. Here, appropriately enough in a ghostly white "Liquesence" finish, is the most ideal Range Rover you have yet seen.
    Rahul joins protest for special status to Andhra

    Rahul joins protest for special status to Andhra

    "We are for special category status for Andhra Pradesh ", Gandhi said at Jantar Mantar . Tuesday's protests were a continuation of the previous day's agitations.
    Manu Bhaker strikes two gold medals at shooting World Cup

    Manu Bhaker strikes two gold medals at shooting World Cup

    The 16-year-old Haryana girl was trailing local favorite and two-time World Cup Finals victor Alejandra Zavala by 1.4 points. Women: 10m air pistol: 1. "As always, I will look to give my best shot and win medals for my country", she said.
  • Jennifer Garner offers hilarious explanations for her Oscars meme

    Jennifer Garner offers hilarious explanations for her Oscars meme

    Another joked that Garner was thinking about her separated husband, Ben Affleck , who plays Batman in the Justice League films. The camera picked up her shocked moment during an applause break, and Twitter was sent spiraling into a predictable frenzy.
    Oscars 2018: 'The Shape of Water' wins Best Picture

    Oscars 2018: 'The Shape of Water' wins Best Picture

    The prestigious award has been won by well-deserving Sam Rockwell for Three Billboards Outside Ebbing, Missouri . Del Toro was named as Best Director for The Shape of Water during Sunday night's show.
    Australian batsmen kept in check in South Africa

    Australian batsmen kept in check in South Africa

    After losing the One-Day and T20 series against India, South Africa has been lost their momentum of winning in their hometown. Aiden Markram and de Villiers were involved in a mix-up, as Warner threw the ball fiercely in the direction of Markram.