/---/ What if the other countries started the trade wars?
President Trump has repeatedly
criticized the EU for treating the US car industry unfairly, threatening to raise the tariff on
European cars to 25 percent, from the current rate of 2.5 percent. The European Union currently imposes a 10 percent tariff on US cars, in fact creating an unlevel playing field for US car makers trying to sell American-made models to European markets.
As the following chart shows,
automobile trade between the United States and the EU is a fairly lopsided affair. In 2018, the EU exported 1,155,488 cars worth $43.1 billion to the US, while the US shipped 267,653 cars worth $6.3 billion to the 28 EU member states. In an interview with German newspaper Welt am Sonntag, Germany’s Secretary of Commerce Peter Altmaier said that the EU would be open to dropping the levy on American cars altogether, but only if it comes as part of a broader tariff agreement.
View attachment 1073970
This chart shows key figures on passenger car trade between the EU and the United States in 2018.
www.statista.com