Germany's defence minister on Thursday
confirmed a report that the United States was threatening to impose a 25 percent tariff on European car exports if it continued backing the Iran nuclear deal.
After years tangled in the "dieselgate" emissions cheating scandal, German carmakers could suffer huge losses if the United States carries out its threat to levy tariffs on European car imports.
Shares in German and other European car manufacturers fell on Friday after US President Donald Trump threatened to impose a 20 percent tariff on cars imported from the bloc, traders said.
Germany's central bank said on Friday it had sharply downgraded its economic growth forecast for 2018 but grew more optimistic for next year, saying the present boom should continue although the
danger of a trade war is rising.
Germany expects Washington to impose punitive tariffs on EU aluminium and steel imports from May 1st, a government source said on Thursday, hours before Chancellor Angela Merkel was to head for the United States.
Confidence among investors in Europe's largest economy Germany plunged in March, with a monthly barometer dropping to its lowest level in 18 months, reflecting fears of a transatlantic trade war.
US President Donald Trump "will not succeed" in dividing European nations against one another over trade, German Economy Minister Peter Altmaier warned on Sunday ahead of a visit to Washington.
US President Donald Trump is "offending" allies and risking a global trade war with his controversial
tariffs on steel and aluminium, Germany's economy minister said Friday.
Phoning and surfing while abroad is about to get a lot cheaper in the EU as new rules limiting how much mobile operators can charge come into force on Saturday.
