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Trump Threatens German Carmakers With 35% Tariff

Trump Threatens German Carmakers With 35% Tariff Trump Threatens German Carmakers With 35% Tariff

United States president-elect Donald Trump warned German car companies he would impose a border tax of 35% on vehicles imported to the US market, a plan that drew sharp rebukes from Berlin and hit automakers’ shares, CNBC reported. In an interview with German newspaper Bild, published on Monday, Trump criticized the German carmakers for failing to produce more cars on US soil. “If you want to build cars in the world, then I wish you all the best. You can build cars for the United States, but for every car that comes to the USA, you will pay 35% tax,” Trump said in remarks translated into German. “I would tell BMW that if you are building a factory in Mexico and plan to sell cars to the USA, without a 35% tax, then you can forget that,” Trump said. Volkswagen shares fell 2%, and shares in Daimler and BMW both fell 1.8%.

 

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