President Trump wants Americans to buy fewer European cars and Europeans to buy more American cars. To speed up his dream, on Sunday evening he said that modern tariffs for EU companies “definitely happen”. (Those from Mexico and Canada were Stayed for now.) Jego groźba 25 procent taryf, między innymi, import samochodu z UE może wywołać wojnę handlową motoryzacyjną.
The market reaction to this was predictable: European Manufacturers’ shares fell yesterday. Stellantis and Volkswagen fell by 6.8 and 5.6 percent, respectively. Volvo fell by 6.5 percent, while Mercedes Benz, BMW and Porsche lost from 3.6 to 4.3 percent.
Despite his Bavarian originTrump has a special beef with German cars. IN Report 2018 from the German magazine Economic WeekTrump told French President Emmanuel Macron that he did not want Mercedes releasing Fifth Avenue in Up-to-date York. According to several unnamed European and American diplomats, Trump also asked Macron why the Germans buy so few sixts, but American drivers choose BMW.
The accuracy of this conversation was confirmed in November last year, when the German Chancellor Angela Merkel was, she told the Italian information service Corriere della cheese The fact that Trump “was obsessed with the idea that there were too many German cars in New York.” Trump could be among them as European cars that the president had It apparently includes Mercedes-Benz SLR McLaren, Lamborghini Diablo and Rolls-Royce Silver Cloud.
This is a strange obsession because Mercedes-Benz noticed by Trump rides with Fifth Avenue, it will probably be Made in Alabama. In the United States there are also BMW and Volkswagen Volkswagen factories, building huge cars adapted to American flavors.
Trump demanded that foreign automotive companies have to be produced in the United States, seemingly unaware of the fact that since the 1990s millions of cars in America have been produced by European brands – especially German.
Volkswagen said last year that he was investing $ 10 billion in the USA, divided between the Chattanooga factory and A joint undertaking with the EV Rivian producer. The South Karolina has the largest BMW assembly factory in the world – last year he earned 396,000 cars – and was successful in 30 years that the Global General Director of BMW, Oliver Zipse, recently received recently Economic award from the Republican Governor of State.
Porsche and Daimler also do in the USA. The German car manufacturer in Alabama, South Carolina, Texas and other voting states for Trump directly employ around 50,000 American employees, with even more employers of parts and centers of dealers and services employers.
“Making any distinction between the American car and what the German car is nonsense” Jacob KirkegaardEuropean trade expert at the Peterson Institute for International Economics based in Washington.
There is also increased international competition of car brands. Chrysler, historically one of the “great three” American car manufacturers together with GM and Ford, was bought by Fiat from Italy and from 2021 it was part of Amsterdam-Headquarterted. Stellantis groupwhich is the owner of allegedly American Dodge, Jeep and RAM Trucks.