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Trump’s Trade War Claims Another Victim in Germany's Osram

Oliver Sachgau, Tara Patel
Trump’s Trade War Claims Another Victim in Germany's Osram

Osram Licht AG became the latest domino to fall in President Donald Trump’s trade war, warning that rising tensions are weakening the outlook for the automotive industry the German company supplies with headlights and components. The announcement on Thursday, sending Osram shares down as much as 23 percent, is part of an almost-daily litany of companies warning of fallout from the U.S. president’s push to upend the global trade framework. With rising friction over automotive tariffs high on the agenda of European Union leaders meeting in Brussels, U.S. Trade Representative Robert Lighthizer on Wednesday blasted the bloc’s tit-for-tat response to U.S. levies on steel and aluminum.