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LONDON (CNNMoney) - German Chancellor Angela Merkel has warned the Trump administration that hitting auto imports with new tariffs would have dire consequences.
''We now have tariffs on aluminum and steel and we have a discussion that is far more serious," Merkel told German lawmakers on Wednesday. "This is taking on the contours of a trade conflict — I don't want to use words that go any further. It's worth every effort to try and defuse this so that this conflict does not become a war.''
President Donald Trump has threatened to place a 20% tariff on all European cars coming to the United States if the European Union doesn't remove its own trade barriers.
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Targeting cars would dramatically raise the stakes in the spat between Europe and its biggest trading partner. EU-U.S. trade in goods and services is worth more than €1 trillion euros ($1.2 trillion) each year.
The European Union said earlier this week that America's trading partners could retaliate against nearly $300 billion of U.S. exports if the Trump administration decides to penalize automobile imports from around the world.
In May, the U.S. government launched an investigation into imports of automobiles, including SUVs, light trucks and auto parts.
The type of investigation, known as Section 232, is meant to determine whether the imports are hurting U.S. national security. It's the same approach the Trump administration used before it slapped tariffs on steel and aluminum imports earlier this year.
The European Union has said the U.S. investigation "lacks legitimacy, factual basis and violates international trade rules." And it has argued that new tariffs on autos would damage the American economy.
On Wednesday, German business groups said that tariffs would harm auto industry investment in the United States. They said there are over 300 German automotive facilities in the United States, supporting nearly 120,000 jobs.
Instead of imposing tariffs, Merkel said the United States should work with its partners to find a multilateral solution that address its trade complaints.
''Germany will do everything to prevent the situation from escalating," she said.
-- Nadine Schmidt and Kevin Tschierse contributed reporting.
Was it an accident ?
https://www.facebook.com/237861902902757/posts/1887583837930547/
New York Times PROMOTES Star D.C. Reporter Who Got Caught Sleeping with Sources with "fresh start" in NYC – True PunditTrue Pundit
https://truepundit.com/new-york-times-promotes-star-d-c-reporter-who-got-caught-sleeping-with-sources-with-fresh-start-in-nyc/
HONG KONG (CNNMoney) - Wang Jian, the chairman of high-profile Chinese conglomerate HNA Group, has died in an accident, the company said Wednesday.
Wang, 57, suffered serious injuries after falling Tuesday while on a business trip in Provence, France, HNA said.
"HNA Group extends deepest condolences to Mr. Wang's family and many friends. Together, we mourn the loss of an exceptionally gifted leader and role model," the company said in a statement.
Wang was one of the founders of HNA, which started out as a regional airline more than 20 years ago and grew into a Fortune 500 company.
Police in the Vaucluse area of Provence told CNN that Wang fell 10 to 15 meters (33 to 49 feet) after climbing on a wall for a photo.
Wang was visiting a church in the village of Bonnieux with colleagues and friends, police said. They added that their investigation so far suggested his death was an accident.
Aviation background
Wang, a former CEO of HNA, built his career in the aviation industry, according to his official biography. He started out in civil aviation planning in 1983.
HNA grew out of regional carrier Hainan Airlines, which began operations in 1993. The conglomerate now has more than 10 airlines among its affiliated companies. It also has finance, logistics and technology businesses.
HNA went on a major buying spree in recent years, snapping up big chunks of major US and European companies — including Deutsche Bank and Hilton.
But it racked up huge debts in the process and has since reversed course, selling assets to ease financial pressures as authorities in China cracked down on aggressive overseas deal-making by Chinese companies.
Wang had a degree in airline management from the Civil Aviation University of China and an MBA from the Maastricht School of Management in the Netherlands.
He was one of two chairmen of HNA Group, according to the company's website. The other is Chen Feng.
-- Serenitie Wang and Sam Bradpiece contributed to this report.
They Forgot that the said Trump would make a Good President!https://www.nytimes.com/1984/04/08/magazine/the-expanding-empire-of-donald-trump.html?pagewanted=all
A "major incident" has been declared in the southern English town of Amesbury after two people may have been exposed to what authorities describe as an "unknown substance." http://www.ktvz.com/news/national-world/uk-police-declare-major-incident-after-2-found-unconscious/762841281
One Tin Soldier - Lyrics - Covenhttps://www.youtube.com/watch?v=HKx0tdlxMfY&index=41&list=PLcsGN9g83Mlm1xjkTzZGFMpeWP00NN8Z7
God bless @POTUS and God bless America
Check out @LadyRedWave’s Tweet: https://twitter.com/LadyRedWave/status/1014505373321998336?s=09
@Dina lol ^^^
Sam Walton would be firing a bunch of idiots from his outfit if he were alive and saw those shirts & etc...
Who is the guy crossing the street in q post 1680?
Prince William
I said the same thing this am
Look where he is walking to....
@Axiom yes I posted this early today on your Article you had two of them and I posted them 💞❤👍