4-traders
By William Boston and Bojan Pancevski
June 20, 2018
BERLIN--When the U.S. ambassador to Germany, Richard Grenell, returns to Washington for consultation with the administration Wednesday, he will be carrying a peace offering for President Donald Trump from Germany's leading auto makers.
Their proposal, people familiar with the situation say, is simple: Abandon all import tariffs for cars between the European Union and the U.S.
That would mean scrapping the EU's 10% tax on auto imports from the U.S. and other countries and the 2.5% duty on auto imports in the U.S. As a prerequisite, the Europeans want Mr. Trump's threat of imposing a 25% border tax on European auto imports off the table.
Over the past few weeks, Mr. Grenell has held closed-door meetings with the chiefs of all major German automotive companies, including bilateral meetings with the CEOs of Daimler AG, BMW AG and Volkswagen AG, which operate plants in the U.S. Overall, Germany's auto makers and suppliers provide 116,500 jobs in the U.S., according to the Association of German Automotive Manufacturers.
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http://www.4-traders.com/news/Germany-s-Largest-Auto-Makers-Back-Abolition-of-EU-U-S-Car-Import-Tariffs--26795648/
