Latest news with #GermanSocialDemocrat
Yahoo
03-04-2025
- Business
- Yahoo
EU official warns Trump's 'liberation day' is more an 'inflation day'
The chair of the European Parliament's Trade Committee, Bernd Lange, warned that new tariffs imposed by US President Donald Trump on Wednesday could have severe negative consequences, especially for the average citizen. Lange said that Trump may call it a "liberation day," but from the perspective of the average citizen, it is more likely to be an "inflation day." The impact of a trade war would largely fall on US consumers, with increased costs and inefficiencies in production and processes. The German Social Democrat called Trump's move unjustified and disproportionate, saying it could lead to further escalation and an economic downturn for both the US and the global economy. He also expressed concern about the uncertainty created in the investment climate, citing recent stock market volatility. According to Lange, a united response from the countries concerned is needed to send a clear message to the US. The European Union will consider the best tools to address the situation and to hopefully encourage the US to engage in negotiations, he added. If the US is not willing to negotiate, the EU will not back down and will defend its sovereignty, he said.
Yahoo
01-04-2025
- Automotive
- Yahoo
Germany's Lower Saxony state premier to stand down in May, several media report
BERLIN (Reuters) - Veteran German Social Democrat (SPD) Stephan Weil will stand down as premier of the state of Lower Saxony in May after 12 years in office, several German media, including local broadcaster NDR, reported on Tuesday. The state of Lower Saxony owns 11.8% of shares in Volkswagen and has 20% voting rights. The state has a big influence on the company due to a special law which effectively gives it a blocking minority. The plans come as the SPD are in talks with Friedrich Merz's conservatives to form a coalition on the national level. Elections in the state are due in autumn 2027. A spokesperson for Weil, 66 years old, had no immediate comment.
Reuters
01-04-2025
- Automotive
- Reuters
Germany's Lower Saxony state premier to stand down in May, several media report
BERLIN, April 1 (Reuters) - Veteran German Social Democrat (SPD) Stephan Weil will stand down as premier of the state of Lower Saxony in May after 12 years in office, several German media, including local broadcaster NDR, reported on Tuesday. The state of Lower Saxony owns 11.8% of shares in Volkswagen and has 20% voting rights. The state has a big influence on the company due to a special law which effectively gives it a blocking minority. The plans come as the SPD are in talks with Friedrich Merz's conservatives to form a coalition on the national level. Elections in the state are due in autumn 2027. A spokesperson for Weil, 66 years old, had no immediate comment.
