Europe Is Prepared to Retaliate but Prefers to Negotiate, Says German Diplomat
The European Union is prepared to retaliate against the 20% tariff that its faces from the U.S. if a compromised settlement can't be reached, Miguel Berger, Germany's ambassador to the U.K., said in an interview with Sky News on Sunday.
Berger described the planned tariffs as 'the biggest assault we have seen since the end of the second world war on global trade' but said that negotiation is preferable to the riskier strategy of initiating a trade war.
Take Germany's key auto sector. The country is a large exporter of cars, among other goods, to the U.S.. But at the same time BMW, the German luxury carmarker, is among the largest auto exporters in the U.S.
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