Berlin sources reported that German Chancellor Angela Merkel had warned the US of counter-measures if it imposed punitive tariffs on European cars, saying the move would only create "losers and cause retaliation". Merkel at a news conference said "We have regarding trade a very, very serious situation in the world and she wants to clearly state this".
She added "We don't want these tariffs, we believe that we will damage each other, not only that we in the EU will be harmed but that these can have a far broader impact," further adding they would pose "a real danger for the prosperity of many in the world." Meanwhile Merkel's comments came days before European Commission President Jean-Claude Juncker is due to meet US President Donald Trump to discuss ways to prevent the punitive tariffs and these (talks) are our preferred course of action".
Presently the Trump administration is weighing
import duties of 20% to 25% on European automotive products on national
security grounds. Moreover the threat puts more than $50 billion worth of
European imports at risk and has created panic in Europe's largest economy. Furthermore
Trans-Atlantic duties on cars have been unchanged for decades and the US
charges 2.5% on passenger car imports and 25% on pickup trucks and vans.
Mahindra & Mahindra rolled out electric 3 wheeler auto rickshaw in Bengaluru According to sources "The 3 wheeler range Treo and Treo Yaari are powered with lithium ion battery, which gives 170 km ride for a single charge, said Mahindra Electric Mobility Ltd Chairman Pawan Goenka on the occasion. Meanwhile the $21 billion Mahindra group has invested Rs 100 crore in setting up a technology plant in the city's southern outskirts, with an installed capacity of 25,000 units per annum to make the e-autos for Karnataka initially.
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