According to sources, U.S. President Trump told French President Emmanuel Macron that he would block German luxury carmarkers from the market in the U.S.
Trump’s recent threat to pressure German car manufacturers until there are no Mercedes-Benz on Fifth Avenue in New York severely impacted shares in the luxury car manufacturers.
German news and current affairs magazine Wirtschaftswoche’s article stated that Trump spoke to Macron in April about pushing German luxury car manufacturers out of the US all together. Macron’s administration in Paris refused to comment on the report.
Following this, the Trump administration opened a trade investigation into car imports which may result in a 25% tariff on vehicles on the same “national security” grounds Washington used to impose metals duties in March.
Back in 2017, US revenues amounted to EUR €29.4 billion (USD $36 billion) and 1.3 million German vehicles were sold, amounting to 10% of total production.