BERLIN (Reuters) -Germany's VDMA machinery and equipment manufacturers lobby on Friday called the EU's planned tariff exemption for certain products from the United States “a direct slap in the face” and said the EU Commission needed to “urgently renegotiate”.
The European Commission proposed on Thursday removing duties on imported U.S. industrial goods in return for reduced U.S. tariffs on European cars.
“Duty-free access for U.S. products while simultaneously extending punitive tariffs to European machinery – that would not only be unbalanced, but also a direct slap in the face for one of the pillars of European industry,” said the VDMA.
The lobby, which represents some 3,600 German and European firms, warned that there would be serious consequences to such a move, including job losses and enormous competitive disadvantage.
“The EU Commission must urgently renegotiate. Mechanical engineering products must be clearly and permanently exempted from sectoral tariffs,” said the VDMA.
(Reporting by Miranda Murray, Editing by Rachel More)
