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
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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
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FunTranscript
00:00Big news in the auto industry, the U.S. is signaling a major move that could shake up
00:04car prices worldwide.
00:06Commerce Secretary Howard Lutnick just hinted that if tariffs hit foreign cars, they'll
00:11hit all foreign cars that means automakers from South Korea, Japan, Germany, and the
00:16U.K. could be in for a rough ride.
00:19The announcement is expected on April 2, with President Trump likely to set the stage for
00:23a huge policy shift.
00:26European automakers are bracing for impact BMW is already warning of a 1 billion euros
00:31hit this year, Mercedes, Volkswagen, and Stellantis are also scrambling to adjust their strategies.
00:38Why now?
00:39The U.S. is pushing for a level playing field, the EU charges a 10 percent import tax on
00:44U.S. cars, while the U.S. only charges 2.5 percent on European imports, that could be
00:49about to change, big time.
00:52With billions at stake, car makers are rushing to expand production in the U.S., BMW already
00:58makes 400,000 cars a year in America, but others may have to follow suit to survive.
01:04Is this a negotiating tactic or a real game changer?
01:07What do you think?