European Automakers Brace For Trump’s Tariffs

The Washington Post reports:

For as long as Donald Trump has been president, he has been threatening to slap tariffs on foreign carmakers to stop flashy German vehicles from “flooding” American streets. On Friday, he repeated the threat and attached a specific number, tweeting about a 20 percent tariff on all automobile imports from Europe.

Car tariffs are shaping up as the next battle in what officials here fear is developing into a full-blown trade war between the U.S. and its closest allies. Trump has already imposed tariffs on European steel and aluminum, and Europe on Friday imposed countertariffs on goods ranging from whisky to motorcycles.

Although auto tariffs would be aimed broadly at imports, with cars from major manufacturing hubs such as Mexico, Canada and Japan all likely to be affected, Trump has singled out German cars as the object of his ire.

Hit the link for more, including statements from various European automakers.

Based on the Tariffs and Trade Barriers long placed on the U.S. and it great companies and workers by the European Union, if these Tariffs and Barriers are not soon broken down and removed, we will be placing a 20% Tariff on all of their cars coming into the U.S. Build them here!

— Donald J. Trump (@realDonaldTrump) June 22, 2018