"Executives from BMW, Daimler and Volkswagen met President Trump’s top economic advisors as his administration is considering tariffs on EU imported cars. The automotive industry has always been in the realm of political complicity considering the impact this industry has on the national economy. Expect a far-reaching impact ($300 billion trade loss for 25% tariff), if the US imposes import tariffs on cars imported from EU, as auto-trade accounts for some 10% of the total commerce between the two regions. With the US being one of the largest consumers of luxury cars, expect companies like BMW and Daimler to be the most affected ones if the import tariffs are implemented." - Aman Madhok
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Dec 18, 2018
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