Against the odds: Globalisation – pick n' mix from 354 solutions
Politics is messing up supply chains
The US will not be putting tariffs on EU automotive goods, according to European Commission president Jean-Claude Juncker. This follows the news that US consumers and businesses paid an additional $38bn on tariffed products between February 2018 and September 2019. The tariffs on China will cost US households up to $1,000 a year, according to JP Morgan, while Moody’s estimated that the tariffs had reduced US employment by 300,000.
Mr Juncker told German newspaper Suddeutsche Zeitung that there would be no automobile tariffs – although “Trump will ruffle a bit”, he added. Bloomberg reports.