Trump wants to ban German cars from America

EnlargeChris Kleponis  Pool via Bloomberg

EnlargeChris Kleponis Pool via Bloomberg

German business and current affairs magazine Wirtschaftswoche reported that President Trump told French President Emmanuel Macron in April that he would push German automakers out of the USA market altogether.

The magazine reports that the latter comment was made off the record - but confirmed by unnamed US and European diplomats - to French President Emmanuel Macron as an example of Trump's commitment to proposed trade policies.

US President Donald Trump wants to escalate his trade war to include a total ban on German luxury cars, says a report in WirtschaftsWoche.

A new report from a German magazine states President Donald Trump aims to push Mercedes-Benz, and other German luxury auto makers, out of the US market. After being elected but before he took office, Trump also pledged to place a 35 percent tax on every German auto brought into the U.S. Although he is for free trade, but not at any price: "I love free trade, but it must be a smart trade, so I call him fair". Automotive News says German automakers built 804,000 cars in the U.S. previous year. Within the EU, Germany is the biggest exporter of cars to the United States.

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However, German brands also have huge factories in the United States, where they built 804,000 cars past year, VDA said, providing jobs for USA workers.

German automakers assembled 804,000 cars in USA plants past year but exported another 657,000 to North America from Germany, according to the VDA industry association.

Meanwhile, The Associated Press notes "President Donald Trump's administration is planning to impose tariffs on European steel and aluminum imports after failing to win concessions from the European Union, a move that could provoke retaliatory tariffs and inflame trans-Atlantic trade tensions". German carmakers control 90 percent of the USA premium auto market. Shares of Daimler, Porsche and Volkswagen were all trading off around 1% on the news.

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