US President Donald Trump is angry, very angry at the Germans, as they are apparently “bad, very bad!” If some reports are to be believed, the temperamental US President allegedly reprimanded Germany for having a massive imbalance in trade with his country, especially with regards to cars. The American president apparently went on to threaten Germany on putting an end to the country’s healthy car exports to the U.S.
“The Germans are bad, very bad… Look at the millions of cars they sell in the US. We will stop this” Mr. Trump reportedly said.
Trump has been very vocal about his thoughts on the alleged inappropriateness of foreign carmakers shipping their cars to the US in a lopsided manner. He has been targeting companies like Toyota and the German Big Three for not making cars in America. Part of it is not true, as most of these car makers actually have quite a huge manufacturing base in the US. He used his rhetoric earlier this year as well when he accused the German carmakers for not making their cars in the US.
Mr Trump is of the opinion that the cars which are not built in the US should attract a tax of at least 35 percent “If you want to build cars in the world, then I wish you all the best. You can build cars for the United States, but for every car that comes to the USA, you will pay 35 percent tax,” he was quoted as saying at an earlier occasion.
Share prices of German car manufacturers Volkswagen, Daimler and BMW saw a slight dip after president Trump’s statement.
Despite reports of these aggressive statements being carried prominently by German and English media outlets, White House economic advisor Gary Cohn defended the President’s remarks. “He said they’re very bad on trade but he doesn’t have a problem with Germany. He said his dad is from Germany. He said ‘I don’t have a problem with Germany, I have a problem with German trade,” Mr Cohn said.
Trade imbalance aside, how many of us would want to trade a BMW for a Chevy? Point to ponder, maybe, for the orange man.