Germany's economy minister and major auto industry leaders sharply criticized Trump’s plan to impose tariffs, according to CNBC. They warned that the tariffs on all imported cars and foreign-made auto parts could spark a global trade war. Germany's economy Minister Robert Habeck urged the EU to deliver a “decisive response,” calling the tariffs harmful to both sides. German auto lobby VDA warned of serious disruption to supply chains and negative impacts on consumers. European auto stocks dropped, with Valeo down 5%, and Stellantis and Porsche down around 4%.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Germany's economy minister and major auto industry leaders sharply criticized President
00:06Trump's plan to impose tariffs, according to CNBC.
00:09They warned that tariffs on all imported cars and foreign-made auto parts could spark a global
00:13trade war.
00:14Germany's economy minister, Robert Habeck, urged the EU to deliver a decisive response,
00:20calling the tariffs harmful to both sides.
00:22German auto lobby VDA warned of serious disruption to supply chains and negative
00:26impacts on consumers.
00:28European auto stocks dropped with Vallejo down 5% and Stellantis and Porsche down around
00:334%.
00:33For all things money, visit Benzinga.com slash GSTV.