Trump threatens German carmakers with 35 percent US import tariff

[DonViejo]

Source: Reuters


16 JAN 2017 AT 08:44 ET

U.S. President-elect Donald Trump warned German car companies he would impose a border tax of 35 percent on vehicles imported to the U.S. market, a plan that drew sharp rebukes from Berlin and hit the automakers’ shares.

In an interview with German newspaper Bild, published on Monday, Trump criticized German carmakers such as BMW, Daimler and Volkswagen for failing to produce more cars on U.S. soil.

“If you want to build cars in the world, then I wish you all the best. You can build cars for the United States, but for every car that comes to the USA, you will pay 35 percent tax,” Trump said in remarks translated into German.

“I would tell BMW that if you are building a factory in Mexico and plan to sell cars to the USA, without a 35 percent tax, then you can forget that,” Trump said.

Read more: http://www.rawstory.com/2017/01/trump-threatens-german-carmakers-with-35-percent-us-import-tariff/

[Bengus81]

1. ROFLMMFAO!!

Let me guess,Trump told the big three here in the US he was going to take care of that pesky "import" problem for them.

[TomCADem]

2. Think This Has More to Do With His Hate for Merkel...

...Russia and the Racist Right see her as a German Hillary Clinton, so expect other anti-German attacks from the Trumpster. Plus, Putin approves.

[Sunlei]

12. I agree, for some reason ?, trump assists russia destablizing the Europian trade market.

[Botany]

3. How many BMW dealerships are in America? And how many people are in BMW sales .....

.... or work on them? And what would Trump's 35% tax do to them?

The man is clueless.

[kimbutgar]

19. Really unless they lease very few people can afford to buy a bmw

[Blue_Roses]

24. Exactly.

nt

[Trust Buster]

4. Now this idiot thinks that he can tell foreign companies where they can manufacture. The WTO

will have a field day with this clown.

[George II]

5. He has a lot to learn - the President doesn't establish trade policy or tariffs.

[TheCowsCameHome]

9. He's a dictator. Despot Don.

That's different than being a president.

[DK504]

20. Then of course,

VW has a factory in the US. Can this dude be more uniformed?

[Mariana]

31. He does if Congress rubber stamps his plans.

They probably will.

[TheCowsCameHome]

6. Trump has no clue how tariffs work. None whatsoever.

Someone, anyone, put a muzzle on this clown.

[George II]

11. bush spent 8 years ruining our reputation around the world, Obama spend 8 years repairing it....

....and in 6 months Trump is going to put us back where we were when Obama took office.

Donald Trump is the US' Rob Ford, except that Ford was only responsible for the city of Toronto.

[TheCowsCameHome]

15. Trump will do it in 6 weeks.

And at least Rob Ford was somewhat likable.

[BumRushDaShow]

30. He already did it when he was elected and he hasn't even been inaugurated yet.

[RKP5637]

28. He's on steroids, already is doing a great of wreaking it before he even takes office. He's about

the most clueless individual I've seen. He makes absolutely no sense, his logic is severely flawed. I guess he feels he has now assumed the role of dictator of the universe.

[jmowreader]

33. He may have already done it

He's trying to be World Dictator. That shit won't fly in Berlin, Paris or Seoul.

[bucolic_frolic]

7. Governing is not bluster, policy is not incendiary

Time for Mr. Big Mouth to realize there are consequences
to bloviating

[Sunlei]

8. trump lies. Several Republicans have stated , there will NEVER be a tax/border tariff.

[christx30]

25. Conservatives ive read have proposed

a hearty tax on remittances going to Mexico to pay for the wall. They are ok with taxes, as long as someone else is paying it.

[titaniumsalute]

10. I just looked

In Northeast Ohio alone in 2016 there were 2,946 BMWs sold, 3,812 VW, and 3,107 Mercedes-Benz sold.

A 35% tax would basically mean that people who buy those types of cars would have to pay a 35% higher tax for those vehicles. In other words, none of those people would end up buying those cars. So dealerships would go out of business, auto repair shops would go out of business, parts suppliers would go out of business. Nice work Trump.

Oh, and maybe we should assume that many people who can afford those vehicles are Republicans? I'm sure they will be thrilled to hear that their favorite cars will be unaffordable.

[yallerdawg]

13. Does this jackass know Congress levies taxes and tariffs?

A 35% tax on US consumers (especially the Beamer and Benz crowd!) from a Republican Congress seems a little fanciful!

Sort of a Bernie Sanders 'wet dream'!

I don't think double tweets are going to swing this.

[SayItLoud]

14. tRUMP45* products Mexico, China...

Has one friggin reporter confronted this DICKtator wanna be with"

"Why don't you set an example and make all tRUMP products in the US? Or Have you threatened YOURSELF, YOUR DAUGHTER and YOUR SONS with a 35% import tax on all the tRUMP products made outside America like you threaten other companies?

Not that I've read!!

[NewJeffCT]

27. Trump products will be exempt from any import taxes

or tariffs. Any competing products will have to pay a 100% or higher import tax, or 50% if made in America.

[Bengus81]

16. Wow Don and Republicans....TAX and SPEND,TAX and SPEND............n/t

[Bengus81]

17. LOL...Here the BMW and AUDI dealer has spent the last few years...

Acquiring land and building a NEW huge and very expensive dealership/showroom. It's really just now been completed. Gosh....now who do you think the owner of those two franchises voted for???

[Ruby the Liberal]

35. This software desperately needs a like button

*like*

[dalton99a]

18. He'll threaten French wine next

"French wine must be made on U.S. soil"

[Cryptoad]

21. I hope the SEC is,,,

tracking all the trading around these Trump announcements

[dalton99a]

22. Not the new improved SEC

http://www.cnbc.com/2017/01/04/breakingviews-goldman-sachs-wins-again-with-trumps-sec-chair-pick.html
Goldman Sachs wins again with Trump's SEC chair pick

[DFW]

23. So, this is supposed to encourage BMW to open more plants in the USA?

Instead of expanding the BMW plant in Spartanburg, South Carolina, the Germans will be wary of doing any business at all in the USA. The price advantage they once enjoyed by employing Americans in the USA has completely evaporated with the change in the exchange rate. They may be able to sell in the USA the cars they make in the USA with no penalty, but there are taxes in the EU on goods made in the USA. The Germans even tax German-made goods brought into Germany from the USA (the Germans tax everything--in some instances, they even make their people pay tax on other taxes!).

How Trump envisions this being beneficial in any way other than inflating his ego is beyond me. If he's such a brilliant businessman, then he should know that inhibiting trade is not the best way to encourage it or create jobs. Of course, if he's a puffed-up oaf who has little business acumen aside from cheating people, then he would have no clue, in which case his statements are in perfect alignment with his degree of knowledge and business skill.

[hollowdweller]

26. I'll be interested to see how these threats play out.

In one way a tax could raise a lot of money to be used for infrastructure. US used to raise most of their revenue from tariffs not taxes.

In another way would his own party ever pass such a thing?

Then 2 big GOP constituencies, farmers and coal mining. Exports have made US agriculture hugely profitable. What if say Mexico bans US agricultural imports? Certainly our dumping of cheap agricultural goods has hurt them. What if China bans imports of US coal?

Right now he's just blowing smoke, but for all the GOP spin about "Obama's failed foreign policy" Trump and his macho antagonism would be potentially far worse.

[jmowreader]

34. Not these taxes

People will simply choose products that don't come with these taxes - like BMWs made during the Obama administration.

[redstatebluegirl]

29. His rich buddies won't be happy paying more for their German cars.

[erpowers]

32. Media Needs to Call Him Out

The media needs to call him out for threatening to enact a 35% tax on all good imported to the United States while having his and his daughter's own good produced in foreign countries. Every single time he makes a statement like this people in the media need to ask what he intends to do about his and his daughter's companies. Is he going to tax their products? Will Ivanka start making her clothing in America? Why are his Make America Great Again goods made in Mexico and China?

[muriel_volestrangler]

36. The only way he could do that is withdraw the USA from the WTO, and NAFTA, and start a trade war

and I can't see the Republican party and their paymasters agreeing to that. Trump is still in campaigning bullshit mode. Is he going to stay like that when president? (pauses to wash taste out of mouth) Is the USA going to have to treat Trump like George III, ie an insane head of state who is just kept away from the actual decisions?