Investing for tariff exemptions? Germany's three major automakers reportedly negotiating directly with the U.S. government
Germany's three major automakers, BMW, Mercedes-Benz, and Volkswagen, are negotiating with the U.S. Department of Commerce to seek tariff exemptions by increasing their investments in the United States. The negotiations aim to secure a tariff-free quota for cars exported to the U.S., although the specific amount is still unclear. The three companies hope to reach an agreement by June, but none have commented on the matter so far. The German automotive industry is under pressure from U.S. tariff policies and is facing a dilemma of weak demand and intense competition
According to a report by the German "Handelsblatt" on the 27th, German automakers BMW, Mercedes-Benz, and Volkswagen are negotiating with the U.S. Department of Commerce regarding a possible tariff agreement, hoping to obtain some tariff exemptions based on their investments in the U.S.
The report states that under the proposed plan being discussed, the three major German automakers would increase their investments in the U.S. to gain tariff exemptions for cars exported to the U.S., although the specific amounts are still unclear. These automakers hope to reach an agreement with the U.S. Department of Commerce by June. Currently, Volkswagen, Mercedes-Benz, and BMW have all declined to comment on any negotiations with the U.S. government.
German automakers have been a primary target of U.S. tariff policies, and the recent U.S. tariff policies have further exacerbated the already struggling German automotive industry, which is facing weak demand in Europe and intense competition.
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