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The Latest: Volkswagen Warns Tariffs Could Start Trade war

The Latest: Volkswagen Warns Tariffs Could Start Trade war

Friday, 01 June 2018 04:38 AM EDT

PARIS (AP) — The Latest on the U.S. decision to impose new tariffs on European, Canadian and Mexican goods (all times local):

10:05 a.m.

Germany's Volkswagen, Europe's largest automaker, is warning the Trump administration's decision to impose tariffs on aluminum and steel imports from Canada, Mexico, and the European Union could start a trade war that no side would win.

In a statement to The Associated Press, Volkswagen said Friday it views the tariffs with "regret and concern."

VW says "there are fears that this marks the start of a negative spiral of measures and countermeasures where there will ultimately be no winners."

The Wolfsburg-based company is calling for dialogue between the U.S. and the EU within recognized World Trade Organization principles "in order to prevent any long-term economic damage."

It cautions "any escalation is harmful to both sides."

In addition to Volkswagen vehicles, the company produces Audi, Porsche, and multiple other brands.

10:00 a.m.

French President Emmanuel Macron has told U.S. President Donald Trump that the new U.S. tariffs on European, Mexican and Canadian goods are illegal and a "mistake."

Macron's office said in a statement Friday that the two presidents spoke by phone after Trump's administration announced the decision Thursday to impose 25 percent tariffs on steel and 10 percent tariffs on aluminum.

The European Union is planning retaliatory tariffs on U.S. steel and food goods in the coming weeks, once it calculates the exact cost to European Union companies of the U.S. tariffs. Macron pledged the riposte would be "firm" and "proportionate" and in line with World Trade Organization rules.

The U.S. decision came despite last-minute talks in Paris this week to try to reach a deal.

© Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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The Latest on the U.S. decision to impose new tariffs on European, Canadian and Mexican goods (all times local):10:05 a.m.Germany's Volkswagen, Europe's largest automaker, is warning the Trump administration's decision to impose tariffs on aluminum and steel imports from...
EU,Europe,US,Tariffs,The,Latest
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2018-38-01
Friday, 01 June 2018 04:38 AM
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