According to Germany’s VDA auto industry association, the election of Donald Trump as US President could impede trade and the flow of goods.
Trump was of course elected the 45th President of the United States on Tuesday in a stunning turn of events that defied late polls which showed democratic candidate Hillary Clinton holding the edge over her opponent.
The association, which represents BMW, Daimler and the Volkswagen Group, stated that so far, the election campaign has proven that competition between industrial nations was becoming tougher.
“It is to be feared that the United States under a new President, just like China, will mainly focus on their own economies, at the expense of international trade flows and relationships,” said the VDA in a statement released today.
Furthermore, they added that more protectionism and additional tariffs would hurt both the United States as well as its trading partners, as reported by Autonews.
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