mo4ch:>German car shares dip on Trump tariff tweet
German car shares dip on Trump tariff tweet
22 June 2018
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Pool
Image caption
Donald Trump and Angela Merkel in 2017
Shares in European carmakers took a hit on Friday, after US President Donald Trump redoubled his threats of tariffs against their cars.Mr Trump tweeted that the US would place a 20% import tax on European cars, if the EU's "tariffs and barriers are not broken down soon and removed".Shares in BMW, Daimler, Porsche and Volkswagen each dropped more than 1%, before regaining ground.Mr Trump's comment came amid a US national security probe of car imports.Mr Trump launched the investigation last month, ordering the Commerce Department to determine if car imports are a risk to national security.
The US followed a similar process for the steel and aluminium industry, which led it to impose tariffs on the foreign metals this spring.The EU, China, Mexico, Canada and India are among the places that have plans to retaliate.
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22 June 2018
Image copyright
Pool
Image caption
Donald Trump and Angela Merkel in 2017
Shares in European carmakers took a hit on Friday, after US President Donald Trump redoubled his threats of tariffs against their cars.Mr Trump tweeted that the US would place a 20% import tax on European cars, if the EU's "tariffs and barriers are not broken down soon and removed".Shares in BMW, Daimler, Porsche and Volkswagen each dropped more than 1%, before regaining ground.Mr Trump's comment came amid a US national security probe of car imports.Mr Trump launched the investigation last month, ordering the Commerce Department to determine if car imports are a risk to national security.
The US followed a similar process for the steel and aluminium industry, which led it to impose tariffs on the foreign metals this spring.The EU, China, Mexico, Canada and India are among the places that have plans to retaliate.
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