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Since Donald Trump has become the new U.S. president he has been vowing to turn American trade policy toward a more protectionist stance. That includes imposing a 35 percent tariff on imported cars, could have far-reaching consequences for European automakers. European auto executives who gathered here last week for the annual Geneva auto show have found themselves having to deal unexpectedly with trade issues in markets, including Britain and the United States, that just a year ago seemed steady. Many European automakers produce and even export cars from the United States and Mexic...
It seems like US is not in a good relationship with German automakers since Donald Trump was elected as the new president. He threatened them with a hefty import tax if they plan to sell cars in the United States that were built in other countries, repeating a claim that has shaken the global automotive industry and its biggest players at home and abroad. The new president said that they can build cars anywhere in the world, but for every car that comes to the USA, they will have to pay 35 percent tax. Trump has issued similar warnings, via Twitter, to Ford, GM and Toyota. But ...
It seems that the new president Donald Trump didn't manage to win the love of China yet, truly saying the idea of launching an all-trade war against China isn't something the country must really like. We remember the way China lashed out repeatedly the Asian country during the acrimonious race for the White House. The communist party leader voted for punishing Beijing with defensive 45% tariffs on Chinese imports and to officially declare it a currency manipulator. US auto and iPhone sales in China will suffer a setback, and US soybean and maize imports will be halted. China...
It's been not so long since we've wrote about Cadillac ending its Donald Trump sponsorship and PGA's World Golf Championship deciding to move in Mexico. In fact it's been just a few days since then, and U.S. Republican presidential candidate is already responding at this move. Mr. Trump criticized General Motors for investing in Mexico. His campaign speeches say for itself, the presidential elections candidate suggests that Ford Motor Co. would back down from plans to expand in Mexico or face a 35% tariff on vehicle expands. Ford isn't the only ...
After the Republican presidential front-runner Donald Trump criticized Ford Motor Company's investment strategy, the automaker had to defend itself and its actions. Mark Fields, Ford Motor Co. CEO, declared that being a global, multinational company, Ford will invest to keep competitive and will do what makes sense for the business. Fields told reporters at the New York auto show that the company was boosting investments in the United States. He also said Ford would not back away from foreign investments if they made sense. Trump has been attacking F...
