Car tariffs, EU "studying" response - Von der Leyen stresses the need for a negotiated solution
A day after the mission of EU Trade Commissioner Maros Sefcovic to Washington, Donald Trump announced new customs tariffs of 25% on all cars imported into the United States.
While expressing regret over the decision, European Commission President Ursula Von der Leyen asserted that “the EU will continue to seek negotiated solutions, while preserving its economic interests.” She reiterated that tariffs are taxes that harm businesses and consumers in both the United States and the EU.
“The auto industry is a driver of innovation, competition, and high-quality jobs, through integrated supply chains on both sides of the Atlantic. As I have said before, tariffs are bad taxes for businesses and even worse for consumers, both in the US and in the European Union. We will now assess this announcement, along with other measures that the US is planning in the coming days,” she stressed.
"The EU will continue to seek negotiated solutions, while preserving its economic interests. As a major trading power and a strong community of 27 member states, we will together protect our workers, businesses and consumers across the Union," Von der Leyen's statement said.
According to the White House, the tariffs serve to raise revenue, offset promised tax cuts and boost domestic manufacturing. But for the auto industry, including the US one, the impact risks being significant.
This could lead to higher consumer prices, slower sales, and damage to American manufacturers themselves. The decision will also have an inevitable effect on investment and growth. Cox Automotive estimates that without the exemptions, a car made in the US would cost $3,000 more, while a car made in Canada or Mexico would cost up to $6,000 more.
The tariffs, if implemented, would be felt around the world. The United States imported $214 billion worth of passenger cars in 2024, including from non-European allies like Japan, Mexico and South Korea.
Poll
Wetland Park, investments in Lake Shkodra - Contract signed, aiming to increase the tourist offer of natural areas in the north
The European Bank for Reconstruction and Development has announced the signing of a contract worth 731 thousand euros for the improvement of the landscape......
How much are banks' liabilities towards external debt? - BoA: About 46% is owned by the government. Those in bonds fell
About 46% of Albania's external debt is owned by the government, while the remaining part is distributed among other sectors, commercial banks and the......
"Real estate" leads foreign investments / But, transportation and accommodation mark the highest annual growth
Official data from the Bank of Albania regarding foreign direct investments show that, “Real estate activities” have taken first place in terms of annual......
Trump imposes 25% tariffs on car imports to the US!
US President Donald Trump said on Wednesday he would impose a 25% tariff on imported cars, a move the US leader says will boost domestic manufacturing. "......
Rama: We are increasing the minimum wage by 500 euros. It will come into effect in January 2026!
The country's Prime Minister, Edi Rama, during a question/answer session with citizens in his "Sy m'Sy" column on social platforms, announced that the......
Rama: The procedure for closing TikTok has been completed for smartphones!
Prime Minister Edi Rama declared today during his "Sy m'Sy" column that the procedure for closing TikTok has been completed for smartphones. He also stated......
Growth of major currencies – Dollar, Pound and Franc strengthen!
The US dollar also had a slight increase in value this morning as it was bought for 91.3 lek and sold for 92.5 lek compared to the previous day according to......
“Readiness 2030”, Europe's plans for rearmament - Europe's defense sector offers around 600,000 jobs
The European Union is committed to strengthening European defense capabilities. The European Commission's proposal, originally called "Rearmament of Europe"......
