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Trump may ban German luxury carmakers next

Trump may ban German luxury carmakers next
[Photo: Clem Onojeghuo/Unsplash]

The president has shown he’s not afraid to get into trade wars with even America’s closest allies. And now the president has Germany in his sights, reports CNBC. The weekly German business magazine WirtschaftsWoche cited several unnamed U.S. and European diplomats who revealed that at last month’s meeting between Trump and French President Emmanuel Macron the U.S. president said he was intent on stopping Mercedes-Benz models from driving down Fifth Avenue in New York. The news follows reports that the Trump administration is thinking of imposing a 25% tariff on cars imported to the U.S. Currently, German carmakers control 90% of America’s luxury car market, meaning any tariffs imposed could be devastating for their companies.

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