Germany's VDA auto association says EU-US trade deal still stings

BERLIN, July 28 (Reuters) - Germany's auto association expressed relief that a further trade escalation between the European Union and United States was averted with a 15% tariff deal but made clear that the industry would still be hard hit.

"The U.S. tariff rate of 15%, including for automotive products, will cost German automotive companies billions annually and burden them in the midst of their transformation," said VDA President Hildegard Mueller in a statement on Monday.

The president of Germany's VDMA engineering association, Bertram Kawlath, also called the deal an "unfortunate development" and warned that such asymmetrical deals could not be allowed to become the new normal.