Potential Tariff Hurdles for German Machinery Exports
The VDMA warns that over half of German and European machinery exports to the US could face new tariffs if the US expands its list in December. The German Engineering Federation calls on the EU to renegotiate the tariff deal to protect its industries.
More than 50% of German and European machinery exports to the United States risk being impacted by new tariffs if Washington extends its list this December, according to Germany's VDMA.
The German Engineering Federation, representing 3,600 companies in machinery and plant engineering, has raised concerns that steel and aluminum tariffs could now affect 56% of exports, up from around 40% following an expansion in August.
The organization is urging the European Union to enter into negotiations to revise the tariff agreement in order to safeguard its industries from economic setback.
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