Trump threat BMW, Mercedes with 35% border tax
German BMW warning President-elect Donald Trump could be for heavy import tariffs triggered an immediate response from the car manufacturer and the economy minister two decided not to overreact.
If you want to build cars in the world, then I wish you all the best, Donald Trump elected president said in an interview with German newspaper Bild.
You can build cars for the US, but for every car coming to the US, you will pay 35 percent tax, Trump added, referring to a BMW production facility in Mexico.
The Munich-based automaker said it very well at home in the United States, indicating that these punitive tariffs on imported cars would be unjustified as BMW directly and indirectly employed almost 70,000 people in the US .
The automaker said a BMW plant in San Luis Potosi in Mexico will build the BMW 3 Series from 2019, with production for the global market The Mexican plant would be an addition to the existing 3 Series production sites in Germany and China, he noted.
The president of the German Association of the Automotive Industry VDA, Matthias Wissmann, said Monday Trump's statements were taken seriously, but it remains to see how the future US administration will implement these ads, Wissmann has to be worth.
I think there will be massive resistance to these punitive tariffs to Congress that the investment decisions in the automotive industry require long-term planning and can not be thrown into the sea like that.
Wissmann warned against a Gobal trend towards more protectionism, saying that despite possible short-term gains, all nations stood to be harmed in the long term as a result of these policies.
The president of the German parliament's foreign policy commission, Norbert Röttgen, said the public broadcaster Deutschlandfunk that it would not be easy for the United States to impose punitive tariffs on imported cars.
The United States is a signatory to a number of relevant economic treaties, it is part of the World Trade Organization, he said that you can not simply decree that you must honor your own commitments.
In response to the threat of Donald Trump import duties on German heavy cars for the US market, the German economy minister Sigmar Gabriel said there was no reason to overreact.
I can not say one shouldn t spoil in front of these remarks, we wait and see what will happen, he said He added that Germany was strong and required countries to act in a confident manner.
Gabriel said that the US auto industry would become worse, weaker and more expensive, should be punitive tariffs imposed The negative impact would be even greater if these rates affected parts suppliers as well.
Trump has also complained that the Germans were buying Chevrolets at the same pace Americans were buying German cars, saying there was no reciprocity Minister of the German economy responded that why the US first make better cars.
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If German automakers Business alarmed, German customs duties to import heavy, the president-elect Donald Trump, the punitive tariffs imported.