German carmakers caught in crossfire of US-China trade row
Reuters
China鈥檚 proposed 25 percent tax on US car factory exports will hit nearly 270,000 vehicles, with German carmakers accounting for 7 billion US dollars of the 11 billion total, writes the news agency Reuters. 鈥淭his is a tax on southern Germany, not the US,鈥� analysts at Evercore ISI told Reuters. 鈥淎 25 percent additional auto tariff would represent a 1.73 billion US dollar negative tariff impact directed at southern Germany by China,鈥� they said.
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