US steel and aluminum tariffs cause significant losses to German companies
Sep. 13, 2018
The German Mirror reported on September 3 that according to a survey by the German Metal Industry Federation, 40% of companies expect sales to decline next year, and nearly two-thirds of companies said that imports of aluminum products outside the EU have increased, including from China and Russia's products are mostly, and three-quarters of companies believe that if the United States imposes high tariffs on European cars, they will be directly affected. In the steel sector, the situation is similar, with products from third countries outside the EU growing, such as Turkish and Russian products.
The president of the association, Iffert, said that the United States’ penalties for tariffs have caused losses to the United States and Europe, while China is benefiting. “This is obviously what the United States does not want to see.”