Volkswagen, BMW Exempt from Tariffs

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import tariffs

CNBC

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Technology

Volkswagen and Stellantis evade Trump's 25% tariffs, while BMW braces for impact

Summary

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81% Informative

Volkswagen and Stellantis have confirmed that their North American vehicles made in North America will be exempt from U.S. President Donald Trump 's 25% tariffs.

Volkswagen says it will not be given an exemption under the rules, warning that tariffs hinder free trade and make products more expensive.

The threat of import tariffs has raised alarm bells in Europe , as vehicles and machinery are the EU 's biggest exports to the United States .

The EU had a 102 billion euro ( $110.6 billion ) trade surplus in machinery and vehicles with the U.K ..

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formal

Language

English

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Offensive language