Mexican Media Brands
VW Says U.S. Car Tariffs Would Cost It $2.8 Billion
Volkswagen Group profits would fall by as much as €2.5 billion ($2.8 billion) if the U.S. hikes its import tariffs on cars to 25%, says CEO Herbert Diess.
#economics
Share
Volkswagen Group profits would fall by as much as €2.5 billion ($2.8 billion) if the U.S. hikes its import tariffs on cars to 25%, says CEO Herbert Diess.
“It’s a pity” because the auto industry is powerless to resolve the threat, he tells the Financial Times. In a separate editorial, the newspaper condemns the would-be taxes as “profoundly misguided” and driven by “peculiar notions about trade.”
Austrian Chancellor Sebastian Kurz, who met with President Donald Trump yesterday, told Austrian radio broadcaster ORF that Trump appears determined to impose import tariffs on vehicles from the European Union if he doesn’t reach a trade deal he likes. Trump “really seems to have it in for Germany in particular,” Kurz said.
RELATED CONTENT
-
MTU Research to Boost Fuel Economy ~20%
Researchers are using V2X communications and other methods to provide vehicles with a significant increase in fuel economy.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data