US president has announced aggressive tariffs targeting US allies on what he has dubbed ‘liberation day’
Full report: Trump announces sweeping new tariffs, upending decades of US trade policyAnalysis: Trump’s wall of tariffs is likely to raise prices and cause chaos for business
The new US tariffs “will only create losers” with US consumers particularly hard hit, the German Automotive Industry Association (VDA), has said in a statement, calling on the EU “to act together and with the necessary force, while continuing to signal its willingness to negotiate.”
The body, which represents the powerful German auto industry, said the tariffs marked
the United States’ departure from the rules-based global trade order – and thus a departure from the foundation for global value creation and corresponding growth and prosperity in many regions of the world.
This is not America first; this is America alone.