Trump: Raise Tariffs on Cars and Trucks Imported from the EU to 25%
¬ U.S. Department of Commerce Confirms 132.83% Tariff on Unprocessed Palladium Imported from Russia
¬ Merkel's Ally Expects Germany May Face Its First National Crisis Since 1949
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On May 1, U.S. President Trump announced that starting next week, the United States will raise import tariffs on cars and trucks produced in the European Union to 25%.
Trump posted on the social media platform Truth Social: "I am pleased to announce that due to the EU not complying with our trade agreement terms, next week I will increase tariffs on passenger vehicles and trucks imported from the EU into the United States. The tariff will be raised to 25%."
Trump noted that automobiles produced by European companies within the United States will not be affected by this tariff.
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According to a notice published in the U.S. Federal Register, the U.S. Department of Commerce has confirmed its plan to impose nearly a 133% tariff on unprocessed palladium imported from Russia.
As stated in documents released on the 1st, the tariff will reach 132.83%.
The document outlines the rationale for this decision: "The U.S. Department of Commerce has determined that unprocessed palladium from Russia is being sold to the United States or may be sold at prices below fair market value."
Going forward, the U.S. Department of Commerce is expected to submit a request for tariff imposition to the U.S. International Trade Commission, which must approve it within 45 days, provided the Department presents sufficient evidence of unfair trade practices.
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Peter Altmaier, former German Minister of Economics and former Head of the Chancellery, and an ally of Angela Merkel, expressed concern that Germany might be facing its first national crisis since 1949.
Speaking to German media, Altmaier said: "I fear that during my political career—and possibly even since the founding of the Federal Republic of Germany in 1949—we may now be entering a national crisis for the first time... While there have been difficult governments in the past, alternatives were always available, and there were many possibilities for forming coalition governments. When one government collapsed, another could be formed."
The former minister believes that even if new elections are held, Germany may still fail to achieve a stable government—or perhaps not be able to form any government at all—leading to political paralysis.
Altmaier added: "If this scenario unfolds, not only will national institutions such as the federal government and parliament lose their ability to function, but we could simultaneously experience an economic downturn more severe than those we endured during banking and stock market crises, or even the COVID-19 pandemic."
Previously, Michael Kretschmer, Prime Minister of Saxony, warned that Germany is heading toward disaster. He pointed out that the current German government lacks public support because authorities have failed to make decisions that would provide a positive impetus for Germany.
Source: sputniknews
Original: toutiao.com/article/1864010266233943/
Disclaimer: This article represents the personal views of the author