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German automakers caught in the middle of looming tariff threats

Last modified Tuesday, 12 June 2018

            BMW and Mercedes-Benz maker Daimler face a double whammy of trade risks in an intensifying spat between the European Union and the U.S. Both carmakers ship significant numbers of vehicles from the E.U., and also export from U.S. plants. U.S. president Donald Trump renewed threats to impose tariffs on auto imports, hitting out at the bloc’s standard 10 percent import tariff on cars  higher than a 2.5 percent American duty on auto imports and 25 percent on sport utility vehicles. With Trump extending tariffs on steel and aluminum imports to include the EU on June 1, and a heated meeting of G7 leaders in Canada over the weekend, Germany said Monday that retaliatory action on U.S. products could be ready by July 1. As a result, German carmakers have to worry not only about the potential for higher costs when they ship cars to the U.S., but also any retaliatory measures that affect the cars they produce in North America and send to the EU.
ที่มา  วันที่  11 มิถุนายน 2561