Iran revealed that it has successfully tested a cruise missile this week during naval training. These tests were carried out near the Strait of Hormuz, as per the state media, at a time of increased tensions with the U.S. In the past, Tehran has pressurized to block the Strait of Hormuz, which is a key oil shipping way at the mouth of the Gulf. This move was taken in revenge for any aggressive U.S. action, which includes attempts to stop Iranian oil exports during sanctions.
In August 2018, Washington proclaimed that Iran had tested a short-range anti-ship missile during naval exercises. The country believed that these tests worked as a notice after the decision by Donald Trump, the U.S. President, to re-impose sanctions on Tehran. IRNA, an official news agency, reported that on the 3rd day of exercises, a Ghadir-class navy submarine from Iran launched a cruise missile successfully.
On a similar note, Donald Trump came into the news as Volkswagen AG and numerous other German automakers are waiting for his decision on whether to compel tariffs on vehicles imported into the U.S. Reportedly, the new figures on Germany’s trade in cars are supposed to work little to relieve the tension.
Last year, the home of BMW, Mercedes-Benz, and Porsche made over $25 Billion in automotive trade with the U.S., as per a breakdown of information from the Federal Statistics Office. That number is approximately aligned with the earlier 2 Years, however, down from the 27 Billion Euro surplus in 2015. In 2018, cars were the key export product for Europe’s biggest economy. At the same time, the U.S. was supposed to be the largest market that imported German autos and parts of worth 27.2 Billion Euros. By contrast, Germany was involved in importing only 5.2 Billion Euros of comparable U.S. goods.