Volkswagen may lose about $ 2.8 billion on new Trump taxes

Volkswagen may lose about $ 2.8 billion on new Trump taxes

February 25, 2019 0 By autotimesnews

The general director of the German concern Volkswagen told that possible US duties could cause serious financial damage to the company and the local market.

President Donald Trump wants to impose tolls on cars imported into the US from the European Union. This became known this week after the talks of Trump with the EU on a new trade deal.

“If we do not make a deal, we will create a fee,” Trump said on Wednesday. “We are trying to make a deal. It’s very difficult to conclude a deal with the EU. ” However, the introduction of these duties will seriously affect the European car manufacturers, which can completely kill all the benefits to trade in the American market. An illustrative example is the Volkswagen Group.

 The Financial Times cited the words of General Director of the Volkswagen Group, Herbert Disse, who described how potential companies could influence their potential tolls. According to him, this will bring VW about $ 2.8 billion in losses.

It should be noted that this is not the first case when President Trump threatened to impose taxes on cars imported from Europe. This will affect the cost of cars, as well as reduce the profits of companies.