Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland
Advertisement

German car shares skid after Trump tariff threat

Share this article

German car shares skid after Trump tariff threat
Photo: DPA
03:49 CEST+02:00
Shares in German and other European car manufacturers fell on Friday after US President Donald Trump threatened to impose a 20 percent tariff on cars imported from the bloc, traders said.
In Germany, BMW was down around two percent while Daimler and Volkswagen both dropped by more than one percent.
 
 
European auto stocks had already come under pressure in recent days on expectations that Trump would seek to hit the sector with tariffs in response to retaliatory tariffs by Brussels which kicked in on Friday.
 
Mercedes-Benz maker Daimler was the first among Germany's auto industry titans to lower its profit forecasts this week. High-end competitor BMW says it is following the international situation "more closely than ever".
 
Elsewhere in Europe, Fiat Chrysler shares lost more than three percent in Milan while shares in French carmakers Renault -- which does not sell cars in the US -- and Peugeot were also weaker, but only marginally.
Get notified about breaking news on The Local

Share this article

Advertisement

From our sponsors

Game-changing flight tips for smart business travellers

Whether you're flying for business or pleasure, you don't need to break the bank when booking your next transatlantic flight. As one travel blogger explains, there are ways to fly in style without forking out for a first-class ticket.

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement