European automakers have urged President Donald Trump to abandon his plans to impose a retaliatory tax on car imports from the European Union (EU).An escalating war of words between the EU and the U.S. first began when Trump announced plans to slap hefty tariffs on steel and aluminum imports. He said “very stupid” trade deals had allowed countries from all over the world to take advantage of the world’s largest economy.That prompted a firm response from the U.S.’s trading partners, as well as criticism from the International Monetary Fund (IMF) and the World Trade Organization (WTO).”Free and fair trade is the best for all societies and at the end of the day it delivers win-win situations. I hope the politicians really think about it and create win-win situations for their societies,” Ralf Speth, CEO at Jaguar Land Rover, told CNBC on Tuesday.
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