Volkswagen on Tuesday warned against the "harmful economic impact" of tariffs that U.S. President Donald Trump is proposing on imports from Mexico, where Europe's top carmaker operates a major factory.
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The Volkswagen Group has raised alarms over U.S. President Donald Trump’s proposed tariffs on Mexican imports.
BMW’s Chinese-made BEVs now incur EU import tariffs of close to 21%, while for BYD’ Auto the tariff rate is set at 17%; Geely 19%; and SAIC Motor 35%. Olof Gill, spokesperson for the European Commission (EC), confirmed earlier this week that the EU is prepared to respond to the case in court.
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The EU promised Thursday an "action plan" to help the bloc's beleaguered auto sector as it held talks with industry leaders who have sounded the alarm over emissions fines and Chinese competition. The European Union is under pressure to help a sector that employs 13 million people and accounts
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US President Donald Trump has pledged to place 25 per cent tariffs on imports from Mexico and Canada from Feb. 1 if the two countries are not judged to be doing enough to stop the flow of fentanyl into the United States.
Around 90% of auto exports from both Mexico and Canada go to the U.S., according to the Mexican Automotive Manufacturers' Association (AMIA) and the Canadian Vehicle Manufacturers' Association. German automakers,