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GERMANY: Autos Associaton-'Transatlantic Partnership Must Be Expanded'

GERMANY
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Reuters reporting comments from Chancellor Olaf Scholz following the inauguration of US President Donald Trump. Scholz to Trump: 'Together we can provide decisive impetus for freedom, peace and security as well as prosperity and economic development on both sides of the Atlantic.' Scholz's comments come alongside those from the German Association of the Automotive Industry (VDA), the interest group representing Germany's economically and politically powerful automotive sector, focusing on the new Trump administration in the US and what it means for the German car sector. 

  • VDA on US-EU relations: 'The transatlantic partnership must be expanded, we must make offers, be courageous...We would only lose from a US-EU trade war...We must also become more independent from China but not 'decouple'...Trump constitutes a demand for Europe to act more independently.'
  • On tariffs: 'We have had discussions in the US on possible tariffs...Exact steps remain to be seen, best thing we can do is strengthen our economic position...Tariffs would make production more expensive everywhere [and] drive up inflation...We hope for further discussions.'
  • VDA on EU policy: 'We must review EU carbon emissions targets and prevent further fines...We need a European capital market union...We need a clear European approach, from defence to energy'. 

The autos sector remains politically important in Germany. The financial struggles of the industry amid the transition to EVs and increasing emissions targets threaten tens of thousands of jobs, and with a federal election in a month, politicians of all parties are seeking to avoid US tariffs that could further threaten German employment and exports. 

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Reuters reporting comments from Chancellor Olaf Scholz following the inauguration of US President Donald Trump. Scholz to Trump: 'Together we can provide decisive impetus for freedom, peace and security as well as prosperity and economic development on both sides of the Atlantic.' Scholz's comments come alongside those from the German Association of the Automotive Industry (VDA), the interest group representing Germany's economically and politically powerful automotive sector, focusing on the new Trump administration in the US and what it means for the German car sector. 

  • VDA on US-EU relations: 'The transatlantic partnership must be expanded, we must make offers, be courageous...We would only lose from a US-EU trade war...We must also become more independent from China but not 'decouple'...Trump constitutes a demand for Europe to act more independently.'
  • On tariffs: 'We have had discussions in the US on possible tariffs...Exact steps remain to be seen, best thing we can do is strengthen our economic position...Tariffs would make production more expensive everywhere [and] drive up inflation...We hope for further discussions.'
  • VDA on EU policy: 'We must review EU carbon emissions targets and prevent further fines...We need a European capital market union...We need a clear European approach, from defence to energy'. 

The autos sector remains politically important in Germany. The financial struggles of the industry amid the transition to EVs and increasing emissions targets threaten tens of thousands of jobs, and with a federal election in a month, politicians of all parties are seeking to avoid US tariffs that could further threaten German employment and exports.