The firm estimated potential losses of€8.2 billion for German automakers and parts suppliers under the proposedtariff plan put forward by President Donald Trump.
“German manufacturers sold 1.3 millionvehicles in the US last year,” said Harald Proff, head of Deloitte’s globalautomotive practice. “With American plants already running at 70% capacity,shifting production to the US is not a viable short-term solution.”
The Trump administration has imposed arange of tariffs since he took office, targeting Chinese goods as well as steeland aluminum imports. In February, Trump approved 25% tariffs on Mexican andCanadian imports, though he postponed implementation by a month after bothcountries agreed to new border security measures.
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