News
Report: “Everyday, BMW Loses $10 Million Due To US Import Tariffs.”
German automakers are working to negotiate import duties with the United States, as BMW is reportedly losing $10 million a day due to these tariffs.
The figure is 10 million per day, according to an unspecified report cited by Carscoops, which appears credible. If BMW is losing this much on import duties, Volkswagen and Mercedes likely face similar losses. Reuters confirms that German automakers are in talks with U.S. officials to negotiate a “barter” system, allowing cars produced in the U.S. to offset imports from elsewhere. Polestar indicated that importing a Polestar 4 from China could be balanced by selling a Polestar 3 made in the U.S. abroad, but this arrangement currently seems limited to China.
US President Trump has already imposed a 25 percent import duty on cars and car parts and is threatening to increase it to 50 percent. This would be disastrous for German car manufacturers, who are largely dependent on the US market. Trump says he is mainly aiming for a ‘level playing field’ after a long period in which the EU has imposed a 10 per cent import duty on American cars, while the US has imposed a 2.5 percent duty on European cars.
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