Trump Reportedly Looking to Block German Carmakers from U.S

01 June, 2018, 03:39 | Author: Carlos George
  • GETTYUS trade war This wouldn't be Mr Trump's first attack to German car makers

President Donald Trump allegedly wants to ban imports of German-made vehicles or at least that's what he is telling foreign leaders.

President Trump as soon as Thursday will announce a total ban on the sale of German luxury cars in America, and will also extend his steel and aluminum tariffs to top us trade partners, including Canada and Mexico.

The administration previously threatened to impose tariffs on imported vehicles, aiming to boost domestic automobile production.

Trump's auto tariff is a test of Franco-German solidarity since French carmakers have hardly any USA sales, while German carmakers generate up to 30 percent of global sales there. No U.S. news agency has confirmed Trump's reported remarks to Macron. A report from Germany's Wirtschaftswoche magazine cited several unnamed European and United States diplomats familiar with these alleged plans, according to Automotive News. In 2017, German automakers assembled 804,000 cars in United States plants, exporting another 657,000 to North America, according to the VDA industry association.

The Trump administration has opened a trade investigation into whether vehicle imports have damaged the U.S. auto industry.

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BMW owns Rolls-Royce, while Daimler has Mercedes-Benz and Volkswagen (VOWG_p.DE) controls Bentley, Bugatti, Porsche and Audi. After being elected but before he took office, Trump also pledged to place a 35 percent tax on every German vehicle brought into the U.S.

German automakers assembled 804,000 cars in USA plants a year ago but exported another 657,000 to North America from Germany, according to the VDA industry association. BMW, Mercedes-Benz and Volkswagen now build cars on United States soil.

Berlin has also reacted angrily to a USA vehicle imports investigation, which could lead to tariffs of up to 25 percent on the same "national security" grounds that Washington used to impose metals duties in March.

News of the attack on German automakers arrives just hours before Trump is set to impose 25% steel and 10% aluminum tariffs on product arriving from Mexico, Canada, and the European Union.



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