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BMW, Daimler, VW Ready for White House Meeting on Tariffs
Germany’s Big Three carmakers are prepared to meet with U.S. trade officials to discuss trade tariffs on their vehicles—as soon as they are invited to do so, Reuters reports.
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Germany’s Big Three carmakers are prepared to meet with U.S. trade officials to discuss trade tariffs on their vehicles—as soon as they are invited to do so, Reuters reports.
Last week Handelsblatt and Bloomberg News reported on the would-be meeting and said it could occur as soon as this week. Sources tell Reuters that the meeting is planned. The three carmakers tell the news service that their CEOs are poised to attend on short notice, but they say no formal invitation has been made.
The carmakers are making it clear that they can’t dictate European Union trade policy. But a Reuters source says the companies are intent to help find a way to avoid the 25% tariffs President Donald Trump has threatened to impose unless the EU takes steps to lower its overall trade surplus with the U.S.
The EU currently imposes a 10% import tariff on foreign cars. The U.S. charges taxes of 2.5% on imported cars and 25% on light-duty trucks.
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