The US is signaling a major shift in trade policy that could send shockwaves through the global car industry :automobile::collision: Commerce Secretary Howard Lutnick hinted that if tariffs on foreign cars are imposed, they will apply to all countries—including South Korea, Japan, Germany, and the UK :globe_showing_Europe-Africa: With President Trump expected to make an official announcement on April 2, automakers are bracing for impact :money_with_wings:
European brands like BMW, Mercedes, and Volkswagen could be hit the hardest, with BMW already forecasting a €1 billion loss :chart_decreasing: The move comes as the US aims to balance trade, arguing that the EU's 10% import tax on US cars is unfair compared to America’s 2.5% tariff on European imports :balance_scale:
Carmakers are now scrambling to adjust, with many increasing US production to avoid the potential tax hike :factory: Will this move reshape the global auto market? Or is it just a negotiating tactic? Stay tuned for more updates! :police_car_light: WooGlobe Ref : WGA799229 For licensing and to use this video, please email licensing@wooglobe.com
