CNBC: Germany’s auto giants were already reeling. Now Trump wants to turn them into American companies

CNBC reports:

President-elect Donald Trump’s pledge to impose a blanket tariff on all goods coming into the U.S. could wreak havoc for European carmakers, with Germany’s crisis-stricken automotive sector thought to be particularly vulnerable.

Speaking on the campaign trail in late September, Trump announced his desire to turn Germany’s auto giants into American car firms.

“I want German car companies to become American car companies. I want them to build their plants here,” Trump said in Savannah, Georgia. He added that the word tariff was “one of the most beautiful words I’ve ever heard” and “music to my ears.”

Trump has since announced plans to introduce new tariffs on China, Canada and Mexico in one of his first acts in office. The measures consist of an additional 10% tariff on all Chinese products coming into the U.S. and a 25% tariff on all goods coming from Canada and Mexico…

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