German Carmakers Battling Multiple Fronts After Trade War Heats Up
- Tariffs compound list of costly pressures for VW, Daimler
- Chinese levies on U.S. car imports from Friday to hurt BMW
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The headwinds facing German carmakers just got stiffer with Friday’s start of a much steeper import tariff on U.S. car exports to China. The tit-for-tat trade move will hurt BMW AG and Daimler AG the most.
It’s yet another step away from the comfortable old world of carmaking revolving around production, price and market share. For decades, BMW, Daimler and Volkswagen AG came out on top in a global league churning out desirable cars for the masses and luxury buyers.