President Donald J Trump wants to block German luxury carmakers from the U.S. market, according to an exclusive report by German magazine WirtschaftsWoche.
US President Donald Trump aimed to push German carmakers out of the US and that he wanted Mercedes-Benz cars to stop driving around New York.
On French President Emmanuel Macron’s visit to Washington in April, Trump said he would maintain his trade policy until no Mercedes models rolled on Fifth Avenue in New York. This reports the WirtschaftsWoche, citing several diplomats from Europe and the United States.
German carmakers control 90% of the US premium auto market.
Now German Luxury Cars manufactures control 90% of the US premium auto market, with BMW, Daimler and Volkswagen owning and controlling majoring of the Luxury Car brands from Europe
The Trump administration has opened a trade investigation into whether vehicle imports have damaged the US auto industry.
The Trump administration has opened a trade investigation into whether vehicle imports have damaged the US auto industry. Ironically German automakers assembled 804,000 cars in US plants last year but exported another 657,000 to North America from Germany, according to the VDA industry association.
Within the EU, Germany is the biggest exporter of cars to the United States. EU passenger-car imports from the United States were worth €6.2 billion ($7.3 billion) last year, while the bloc’s US exports topped €37 billion, according to the Brussels-based industry association ACEA.
Donald Trump had campaigned on making America great again, but a reading of his book, Think Like a Billionaire, reveals that when it comes to luxury goods, Trump believes most of the finer things in life are foreign-made.