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EY study : U.S. tariffs could cost the auto maker up to 5 billion

The risk of punitive US duties on car imports, the German economy after the Meeting of car managers and the U.S. government. The Association of the Bavarian economy (vbw) warned of "extremely serious" charges, which went far beyond the companies concerned, if the threatened importation to be implemented, tariffs of up to 25 percent. Then manufacturers customs cost of up to 5 billion euros in the year - ten Times as much as currently threatening the car, as the consulting company EY calculated in a study commissioned by the vbw. Currently, the Americans demand a 2.5 percent tariff.

"The customs dispute demonstrates that all the Parties need to return to the negotiating table, to stop at our company's uncertainty as quickly as possible," said vbw CEO Bertram Brossardt. After the Meeting of top representatives from Daimler, Volkswagen and BMW, with US President Donald Trump on Tuesday in the White house, the German Manager sound optimistic. But from the table to the criminal not are duties, even if the companies have announced large investments in the United States.

It could incur a cost of 3 to 5 billion euros

US trade Minister Wilbur Ross had confirmed on Tuesday the target of reducing the trade deficit with Germany in the case of cars and car parts. Trump, who has been threatening for months as a reaction to the unfair trade with special duties, had given an assurance in the summer, although the EU-Commission, for the time being, refrain from. At last, however, he argued - in the face of job cuts at the U.S. carmaker GM again for customs duties of up to 25 per cent on cars from abroad.

it Should come to that, would the German economy much more harm than good in the spring, the duties imposed on aluminum and steel, it is in the EY study. The annual tariff costs for the Export of the metals in the USA had increased from 22 million euros to approximately € 400 million. "The overall economy" would be the damage but relatively limited, was the opinion of the economic adviser.

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Differently would look, if the US government made good on her threat, the imports of cars and car parts, stronger taxing. This accounted for 2017, around a third of all German exports to the USA. At rates of 15 to 25 percent on the importation of cars customs duties in the amount of 3 to 5 billion euros would arise, therefore, up to ten Times more than the 507 million euros, incurred in 2017, in the case of German car exports to the United States. To customs cost of around one billion euros for vehicle parts would. Other studies of the possible effects, such as the ifo-Institute, were used to come to similar results. (dpa)

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