Potential U.S. Auto Tariffs Will Hurt Germany, Japan, Korea – Moody’s

Ratings firm, Moody’s, said on Tuesday that potential auto tariffs by the U.S 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.

Moody’s noted 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 said.