"The European Union will stick to its word as long as the USA does the same".
The European Union warned U.S. President Donald Trump Monday that the bloc will step back from a commitment to buy more American soybeans and liquid gas if European cars are hit with punitive tariffs.
She says imposing tariffs could have a big effect on the auto industry. Articles appear on euronews.com for a limited time.
If the report does support the argument that auto imports pose a threat, and if the president then follows through, he could levy tariffs of as much as 25% on billions of dollars worth of cars and car parts, everything from luxury vehicles like the Meredes-Benz S-Class down to windshield wipers and batteries.
Trump has 90 days to decide whether to act upon the recommendations, which auto industry officials expect to include at least some tariffs on fully assembled vehicles or on technologies and components related to electric, automated, connected and shared vehicles.
"It took a month and a half for the USA government to disclose the report on its steel tariffs and the USA government used the report as its leverage during the period", said the Ministry of Trade, Industry and Energy, adding, "We will do our utmost, with every possibility open, so that the adverse effects of the recent report on our industries can be kept to a minimum". The bloc retaliated imposing duties on 2.8 billion euros of US imports, ranging from Harley-Davidson motorcycles to Levi Strauss jeans.
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The association also argued that the importation of motor vehicle parts is not a risk to national security.
Germany is pushing hard for the trade deal with the USA, but according to a European source, France is reluctant to pursue talks fearing they may stoke popular anger ahead of European elections in May.
"Unfortunately, the report has not been made public, highlighting, once again, the bogus nature of this investigation", said Cody Lusk, president and CEO of the American International Automobile Dealers Association, in a statement.
"Look, we're proud of our cars and we should be allowed to be". "And these cars are built in the United States of America".
The BDI industry association called on the USA administration to provide more clarity and publish the findings of the national security report swiftly.
Along with the other sectors, the spirits industry has also joined the expanding chorus of several businesses that are trying to convince Trump to cut down the tariffs over the Chinese goods along with the foreign metal by considering the pain which the trade battle has inflicted. Germany's economic growth has stagnated in the last three months of the year.