Germany’s VDA auto association warns of growing costs from U.S. trade war

Germany’s VDA auto association on Saturday warned of growing costs for carmakers and suppliers after U.S. President Donald Trump threatened to impose 30% tariffs on imports from the European Union and Mexico.

“It is regrettable that there is a threat of a further escalation of the trade conflict,” said VDA President Hildegard Mueller.

“The costs for our companies are already in the billions – and the sum is growing every day,” she said, noting that suppliers were also significantly affected by the import duties.