Economics

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We'll pass Trump tariffs back as higher prices for Americans: German firm (www.newsweek.com)

submitted 3 months ago by MicroWave@lemmy.world to c/economics@lemmy.world

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Summary

German engine maker Deutz said it will fully pass Trump’s new 20% tariffs on EU imports to American customers through price hikes.

The move underscores warnings that tariffs act as consumer taxes and could raise inflation.

Trump claimed the tariffs as necessary to combat trade imbalances and protect U.S. manufacturing. However, EU officials, including Ursula von der Leyen, pushed for zero-for-zero tariff deals, but Trump rejected them.

The EU plans retaliatory tariffs by mid-April. Economists and officials warn of recession risks and disrupted supply chains.

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[–] Captainvaqina@sh.itjust.works 2 points 3 months ago

Always was.