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European Automakers Urge Trump Against Trade Wars

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European automakers have urged President Donald Trump to abandon his plans to impose a retaliatory tax on car imports from the European Union (EU).An escalating war of words between the EU and the U.S. first began when Trump announced plans to slap hefty tariffs on steel and aluminum imports. He said “very stupid” trade deals had allowed countries from all over the world to take advantage of the world’s largest economy.That prompted a firm response from the U.S.’s trading partners, as well as criticism from the International Monetary Fund (IMF) and the World Trade Organization (WTO).”Free and fair trade is the best for all societies and at the end of the day it delivers win-win situations. I hope the politicians really think about it and create win-win situations for their societies,” Ralf Speth, CEO at Jaguar Land Rover, told CNBC on Tuesday.

Source: Trade war: European carmakers urge Trump to rethink retaliatory tariffs – CNBC

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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