Leak: chief child Trump Throws Tantrum Oval Office
German entrepreneur goes to war with the Americans Trump buy our cars as they re BETTER.
Dieter Kempf, President of the Free Trade Network BDI, said that Germany sells more cars in the world that America simply because they are better.
He was responding to comments by President Donald Trump about a perceived imbalance of trade between Germany and the car manufacturing industry in the United States.
While elected president complained about the high number of cars manufactured in Germany such as Mercedes seen in the States, saying that there were many fewer American vehicles manufactured in Germany.
And he threatened to hit a tax of 35 percent on all German imports to the United States, just as he promised to do for Mexican products to pay for the border wall.
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But M. Kempf rejected the allegations against the billionaire, saying US manufacturers must better adapt to foreign markets to succeed, the Financial Times reported.
He said the US auto industry has not lost competitiveness is because there are trade restrictions in Europe for American cars.
The US auto industry could focus too long on a comfortable internal market, which has different requirements for cars that exist on the world market.
Dieter Kempf said the quality, not the exchange rate, is what has kept the German automotive industry demand.
Mr. Kempf also challenged the Commercial Counselor M. Trump Peter Navarro, who claimed Germany was using the euro grossly undervalued to exploit the US and a trade surplus.
M. Kempf said When you look at the product that the US president has presented as an example, these are the cars, we do not charge need a cheap exchange rate.
In 2016, Americans bought more than 1 3 million German marks of vehicles while the Germans bought only about a half million U S brand cars, the Daily News reported.
According to Reuters, German carmakers produce 850,000 cars annually in the United States and provide American workers with 33,000 jobs.
German entrepreneur goes to war with Trump World News, German business leader, will.