Quote:
Originally Posted by Bladewire
25% steel tarrifs crush South Carolina BMW plant and Daimler hit with collateral damage in US trade war with China
BMW has its largest factory in Spartanburg, South Carolina, and faces a $965 million impact from Chinese tariffs, with Daimler exposed to a $765m hit, analysts say
German car makers BMW and Daimler are under increasing pressure to diversify production of their 4x4s outside the United States as a result of Washington's growing trade tensions with China.
Beijing's proposed 25 per cent tax on US car factory exports will hit nearly 270,000 vehicles, with German car makers accounting for US$7 billion (Dh25.71bn) of the $11bn total.
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look what Trump is doing to reduce CO2 while the fraudulous carfactories finally pay for their fraud! Trump should call it a CO2 tax, than everybody would be happy. Why should i reduce my CO2 while governments help carplants to pollute more and use steel what is made by energy of coal powerplants. And than it is about those big polluting 4X4's that most people don't even need. If they have money for a BMW 4X4, they also are able to some more. In Holland the German cars are also 30% - 40% more expensive than in Germany due to extra taxes…. and that is our Neighbour, in the 1 market EU. So they better stop complaining about a small 25%. It is for the environment!
In the mean time Arcelor Mittal asks the EU to put on tarrifs to protect the EU steel industry now the cheap steel is dumped in the EU.
Or must i feel sorry for the German car industry stock holders?