President-elect Donald Trump's pledge to impose a blanket tariff on all goods coming into the U.S. could wreak havoc for European carmakers.
Republican Presidential candidate, former U.S. President Donald Trump speaks to attendees during a campaign rally at the Johnny Mercer Theatre on September 24, 2024 in Savannah, Georgia.Speaking on the campaign trail in late September, Trump announced his desire to turn Germany's auto giants into American car firms.
For Germany, the prospect of U.S. tariffs on European autos comes at a time when it's top original equipment manufacturers areGermany’s auto giants are struggling to stay relevant The potential imposition of tariffs on Germany's carmakers, Luman said, would therefore make a bad situation even worse. "One area that is still concerning for a lot of economists, including myself, is the fact that we're still hovering around basically 4% unemployment in the United States, so trying to drive a lot of additional work in the U.S. is going to be problematic," he added.
BMW, which declined to comment on the prospect of Trump's tariff threats, has a nationwide footprint of roughly 30 locations across 12 U.S. states, including the largest single BMW production facility in the world in Spartanburg, South Carolina.
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