Agency Report –
The exact fees are determined in a complicated calculation which is set to be applied to further products in the sector following another round of trade talks in December, the Association of German Mechanical and Plant Engineering (VDMA) warned.
According to VDMA calculations, this would mean that around 56% of German machinery exports would be affected by the steel and aluminium tariffs, which would impact virtually all branches of the mechanical engineering industry.
“It is to be feared that the US will continue this foul play,” said VDMA President Bertram Kawlath, calling on the EU to continue negotiations.
Kawlath also warned the US of negative consequences for its arms production, which is dependent on machines manufactured in Europe.
