New Volkswagen cars are seen at the Berlin Brandenburg international airport Willy Brandt (BER) in Schoenefeld, Germany, August 14, 2018. REUTERS/Hannibal Hanschke
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European car stocks fell and the region's politicians expressed disappointment after U.S. President Donald Trump rejected a plan to eliminate tariffs on auto imports and reiterated his threat to pull out of the World Trade Organization, in a move that would upend commerce globally.Trump's remarks cast doubt on the longevity of an agreement struck this summer with EU Commission President Jean-Claude Juncker, intended to stave off a broader trade war between the U.S. and Europe after the U.S. president imposed tariffs on imported steel and aluminum earlier this year.Trump told Bloomberg eliminating tariffs on U.S. car imports would do little to help the U.S. car industry, as European consumers would still not buy American cars.
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