President Donald Trump has promised 25% levies on all cars not made in the US. The new tariffs will hit German automakers in particular. Sigrid de Vries, Director General of the European Automobile Manufacturers Association (ACEA), says she would like to see a "balanced response" from the European Union. "We also insist and we also hear that back from them, that the door to further conversations to a negotiated solution should remain firmly open, because an escalating trade war is in no one’s interest," De Vries said.
De Vries spoke to Bloomberg’s Tom Mackenzie on Friday, March 28.
Chapters:
00:00:05 – Level of damage EU car makers could experience
00:01:16 – Values at risk amid Trump’s 25% levy
00:03:05 – What the lobby group hopes the EU will do in response
00:04:25 – Negotiations continues as stakeholders voice concerns
00:06:26 – Are Chinese automakers winning amid Trump’s tariffs
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