Germany’s DIHK: US auto tariffs would cut EUR 6 billion from German GDP

Eric Schweitzer, President of Germany’s DIHK Chambers of Commerce told German television on Friday, the tariffs imposed by the US on imported cars would reduce around Euro 6 billion (USD 6.99 billion) German economic output for this year, as cited by Reuters.

Schweitzer noted that he took Trump’s threats “very seriously” and added such tariffs would be “against international law”, adding that such levies would not only result in job losses in Germany and Europe but would also hit jobs and investment in the US.