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.
CM Chandrababu Naidu unveiled NTR statue Accordingly Andhra Pradesh Chief Minister N Chandrababu Naidu on Friday unveiled a 36 feet tall statue of Telugu Desam Party (TDP) founder and actor turned politician N T Rama Rao at Sattenpalli in Guntur district. Reportedly the bronze statue has been erected on a 40 foot platform at NTR Sagar in the middle of the pond and the state government has plans to develop the region into a mini Tank Bund like the Hussainsagar in Hyderabad.
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