Trump's Tariff Tweet Sends Daimler, BMW Shares Careening
- U.S. carmakers also pare gains on rising trade tensions
- Trump tweet demands European carmakers ‘build them here!’
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German automotive stocks fell after U.S. President Donald Trump threatened to impose a 20 percent tariff on all European car imports, escalating his demand for concessions aimed at lowering the U.S. trade deficit.
Shares of Volkswagen AG, Daimler AG and BMW AG fell in Frankfurt after Trump’s latest broadside, insisting European manufacturers “build them here!” General Motors Co. and other U.S. automakers pared earlier gains, on concern they too would get caught up in rising global tariffs.