President Trump wants Americans to buy less European and European cars to buy more American cars. To speed up his pipe dream, on Sunday night, he said that new tariffs for EU companies will happen. (People on Mexico and Canada have been stay now.
The market reaction of this is predictable: Europe Shares of the automobile manufacturer decreased yesterday. Stellantis and Volkswagen have decreased by 6.8 and 5.6 %respectively. Volvo fell 6.5 %, while Mercedes Benz, BMW and Porsche lost from 3.6 to 4.3 %.
Although his Bavaria's ancestorsTrump has a special beef with German cars. In a Report 2018 From German magazine Economic weekTrump told French President Emmanuel Macron that he did not want Mercedes to roll down New York's fifth avenue. And, according to some unnamed European and American diplomats, Trump also asked Macron why Germans bought very little Chevrolets but the American driver chose BMW.
The accuracy of this conversation was confirmed in November last year when former German Prime Minister Angela Merkel told the Italian news store. Corriere Della Sera That Trump was obsessed with the idea that there were too many German cars in New York. Trump may be one of them The presidential European cars owned It is clearly included in a Mercedes-Benz SLR McLaren, Lamborghini Diablo and Rolls-Royce Silver Cloud.
It was a strange obsession because a Mercedes-Benz was discovered by Trump that rolled down on the fifth avenue that could probably Made in Alabama. There are Mammoth BMW and Volkswagen factories in the US, too, building large cars suitable for our tastes.
Trump has asked automobile companies abroad, thereby having to produce in the United States seems to be unaware of the fact that since the 1990s, millions of cars have been produced by European brands, Especially the German brands.
Volkswagen said last year they were investing $ 10 billion in the United States, divided between its chattanooga factory and one. Joint venture with EV Maker Rivian. South Carolina has the largest BMW assembly factory in the world, it has created 396,000 cars there last year and has been successful for more than 30 years to the global CEO of BMW, Oliver Zipse, recently received a one. Economic Award From the Governor of the Republican of the State.
Porsche and Daimler also work in the US. German automobile factory in Alabama, South Carolina, Texas and other voting countries of Trump directly use about 50,000 American workers, with many spare parts providers, and service centers and agents.
To create any distinction between an American car and a German car is meaningless, ” Jacob KirkegaardA European trade expert with the Peterson International Economic Institute is based in Washington, DC told Wired.
There is also the international co -founder of car brands. Chrysler, in history, is one of the large three -car manufacturers of the United States with GM and Ford, has been bought by Fiat of Italy and since 2021, is part of Amsterdam based in Amsterdam. Stellantis groupThe place to own brands is said to be the United States Dodge, Jeep and Ram Trucks.