Germany willing to cut tariffs on US cars, lifting automakers’ shares

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Germany’s chancellor said Thursday she’s willing to back lower tariffs on U.S. auto imports as a potential European Union (EU) concession to the Trump administration – just one day after CEOs of Germany’s biggest carmakers reportedly voiced support for eliminating such tariffs entirely.

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Angela Merkel said she would be ready to support lowering the tariffs, though the measure couldn’t just apply to the U.S.

“I would be ready to support negotiations on reducing tariffs but we would not be able to do this only with the U.S.,” she said, as reported by Reuters, adding that singling out one country would violate World Trade Organization rules.

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www.foxbusiness.com/politics/germany-willing-to-cut-tariffs-on-us-cars-lifting-automakers-shares

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