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US President Trump has initiated a review of selective tariffs, targeting specific countries and addressing non-tariff barriers like VATs and subsidies. While immediate implementation is delayed, potential retaliatory measures from the EU, Japan, and South Korea could escalate trade tensions, impacting market volatility and inflation. The EU has proposed lowering tariffs on US cars to avoid conflict, while negotiations with India aim to reduce high tariffs on US goods.
After over 25 years of negotiations, the EU and Mercosur states are nearing a free trade agreement, with EU Commission President Ursula von der Leyen reportedly in Uruguay to finalize discussions. The deal could create a market of 700 million people, but faces opposition from some EU members concerned about its implications for stability and unity. Key concessions include significant tariff reductions on agricultural products, with the gradual elimination of 91% of customs duties on EU exports and 92% on Mercosur imports.
Chinese automakers are poised to strengthen their presence in Europe as discussions on electric vehicle tariffs progress, with a potential agreement involving a price undertaking to prevent undercutting. Meanwhile, global automakers face challenges in both Europe and China, with significant layoffs and a looming price war as competition intensifies. UBS analysts suggest that foreign carmakers should pivot towards affluent consumers and leverage China's advancements in technology and R&D to remain competitive.
Bernd Lange
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
selective tariffs signal potential trade negotiations and market volatility ahead
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17:03 14.02.2025
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11:51 26.11.2024
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