The tariff hike on cars and trucks from the European Union announced by U.S. President Donald Trump could cost Germany nearly 15 billion euros ($17.58 billion) in output, an economic institute told Reuters on Saturday. The estimate from the Kiel Institute for the World Economy (IfW) highlights the exposure of the EU's largest economy to U.S. import tariffs, which have already cost the German automotive industry billions. "The effects would be substantial," IfW President Moritz Schularick said, with output losses rising to around 30 billion euros over the longer term, according to the institute's analysis.