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Trump Asks German Carmakers to Discuss Trade
President Donald Trump has invited the CEOs of BMW, Daimler and Volkswagen to the White House to discuss a trade deal between the U.S. and Germany.
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President Donald Trump has invited the CEOs of BMW, Daimler and Volkswagen to the White House to discuss a trade deal between the U.S. and Germany.
The tentative meeting could occur as soon as next week, sources tell Bloomberg News.
Trump has threatened to impose 25% import tariffs on imported vehicles unless the European Union and the U.S. can agree on a broader trade agreement. The president decided last week not to impose the tariffs. But the White House has signaled he may change his mind next month unless the trade talks show progress.
BMW, Daimler and VW all have large vehicle production operations in the U.S. But they import many of the vehicles they sell in the American market. Trump has been especially keen on persuading Germany to lower its trade surplus with the U.S.
Bloomberg notes that the EU’s trade commissioner was in Washington, D.C., last week to discuss a limited free-trade deal that doesn’t address auto tariffs.
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