German carmakers caught in crossfire of U.S.-China trade tensions


By Reuters

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FRANKFURT — German carmakers BMW and Daimler are under increasing pressure to diversify production of their sports utility vehicles (SUVs) outside of the United States as a result of Washington’s growing trade tensions with China. Beijing’s proposed 25 percent tax on U.S. car factory exports will hit nearly 270,000 vehicles, with German carmakers accounting for $7 billion of the $11 billion total.

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German carmakers caught in crossfire of U.S.-China trade tensions originally appeared on Autoblog on Thu, 05 Apr 2018 08:00:00 EDT. Please see our terms for use of feeds.

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