Potential U.S. auto tariffs would hurt Germany, Japan, Korea: Moody's
Reuters
Published Apr 09, 2019 04:06AM ET
Potential U.S. auto tariffs would hurt Germany, Japan, Korea: Moody's
(Reuters) - Ratings firm Moody's said on Tuesday that potential auto tariffs by the United States would be a risk to global growth, hindering economic momentum in Germany, Japan and Korea.
However, such a move would be less severe for China as Chinese vehicle exports were already subject to trade restrictions, Moody's said in a report, adding that it would also be broadly credit negative for the global auto industry.
"Auto trade restrictions would cause a broader hit to business and consumer confidence globally in an already slowing global economy," Moody's Associate Managing Director Elena Duggar wrote.
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Written By: Reuters
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