Shares slump on both sides of the Atlantic, and across Asia-Pacific, as US dollar falls to six month low after US President Trump’s ‘liberation day’
- Full report: Trump announces sweeping new tariffs
- Analysis: Trump’s tariffs likely to raise prices and cause chaos
- What are tariffs and why do they matter?
The new US tariffs “will only create losers” with US consumers particularly hard hit, the German Automotive Industry Association (VDA), has said in a statement, calling on the EU “to act together and with the necessary force, while continuing to signal its willingness to negotiate.”
The body, which represents the powerful German auto industry, said the tariffs marked
the United States’ departure from the rules-based global trade order – and thus a departure from the foundation for global value creation and corresponding growth and prosperity in many regions of the world.
This is not America first; this is America alone.
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