GERMAN ECONOMY MINISTRY: WE TAKE NOTE OF TRUMP'S ANNOUNCEMENT OF HIGHER AUTO TARIFFS, WILL COORDINATE CLOSELY WITHIN EU ON NEXT STEPS

The German Economy Ministry acknowledged former President Trump's announcement regarding increased auto tariffs, indicating a commitment to coordinate with other EU members on potential responses. This development could influence market sentiment through the channel of trade policy risk, particularly affecting European automakers and suppliers who may face higher costs or reduced competitiveness in the U.S. market. The automotive sector, especially companies with significant exports to the U.S., is most exposed to these tariff changes. Traders will closely watch for any official EU response or retaliatory measures, particularly in the upcoming EU trade meetings scheduled for next month.

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