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Trump Threatens to Tax German Car Sales in U.S.
President Donald Trump complained to EU officials this week that German carmakers are “very bad” for selling so many vehicles in the U.S., declaring, “We’re going to stop that,” according to Der Spiegel.
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President Donald Trump complained to EU officials this week that German carmakers are “very bad” for selling so many vehicles in the U.S., declaring, “We’re going to stop that,” according to Der Spiegel.
Trump’s top economic advisor confirms the comment. He says the president is troubled by the imbalance between the volume of German cars sold in the U.S. and number of American brands sold in Germany.
Trump has frequently criticized Germany’s trade surplus with the U.S., which dropped to $65 billion last year from $75 billion in 2015, according to the U.S. Census Bureau. In January the president told Bild that the U.S. might impose a 35% import duty on foreign-built cars.
A spokesperson for Chancellor Angela Merkel tells reporters, “A surplus is neither good nor evil. It’s the results of supply and demand.”
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