German carmakers hit by report Trump threatens to drive them off US streets
Updated : May 31, 2018 05:20 PM IST
The Trump administration last week opened a trade investigation into vehicle imports, which could result in a 25% tariff on cars on the same “national security” grounds Washington used to impose metals duties in March.
This could destroy exports by German carmakers, which control 90% of the US premium market and are the biggest European Union exporters of cars to the United States.
BMW owns Rolls-Royce, while Daimler has Mercedes-Benz and Volkswagen controls Bentley, Bugatti, Porsche and Audi. Daimler, BMW and Audi declined comment.
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