Trump's Tariff Threatens European Autos

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new tariffs

CNBC

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World

Germany’s auto giants were already reeling. Now Trump wants to turn them into American companies

Summary

Nutrition label

75% Informative

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.

Trump has since announced plans to introduce new tariffs on China , Canada and Mexico in one of his first acts in office.

Germany is by far Europe 's largest exporter of passenger cars to the US ., accounting for 23 billion euros ( $24.2 billion ) worth of exports last year .

Julia Poliscanova , senior director for vehicles and e-mobility supply chains at the campaign group Transport & Environment , told CNBC via video call.

"It will be bad news in the short term, for example, for German carmakers, but it is important to understand that this is what the world is," she said.

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful