dispute Autobosse search way out of the customs dispute - Meeting with US Ambassador Grenell
The bosses of VW, Daimler and BMW meet after Handelsblatt information again today with US Ambassador Grenell. They still want to prevent the impending auto duties.
Managers want to reassert themselves to the intimacy of US President Donald Trump in light of the difficult situation that an escalating trade dispute would not benefit anyone. After the already applicable tariffs on steel and aluminum , Trump has threatened the EU with import duties on cars and car parts of 20 percent, which would hit German manufacturers particularly hard .
BMW , Daimler , Volkswagen and Co. produce more than 800,000 vehicles a year in the US and employ tens of thousands of people in their factories in America.
According to a report by the Financial Times, the EU Commission is examining a comprehensive agreement with other auto export nations, such as the US, South Korea or Japan, to reduce tariffs. The idea could be discussed at a Trump meeting with Commission President Jean-Claude Juncker in Washington.
EU threatens Trump with auto-tariffs with massive retaliation
Trump criticizes an imbalance in the industry and sees his country treated unfairly in trade matters. Already in early March, he had made clear that he does not shy away from a confrontation: "If a country (USA) loses billions of dollars in trade with almost every country it does business with, trade wars are good and easy to win."
The US is increasingly facing resistance with its foreclosure policy internationally. Numerous states have criticized the WTO for US tariff plans for the importation of cars and car parts. More than 40 countries, including all 28 EU countries, warned participants on Tuesday of a disruption of the world market and a threat to the WTO system. Japan said additional tariffs on cars could trigger a spiral of countermeasures and lead to a collapse of the rules-based international trading system.
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