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VW boss says he is 'calmly assessing' Trump threat on EU car exports

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The tit-for-tat exchange originated after Trump had earlier announced a 25 percent tariff on steel and aluminum.

Speaking to CNBC Monday at the Geneva International Motor Show, VW Group chief Matthias Mueller said there was no need to make any pressing decisions.

"We haven't assessed that yet because apart from a rumor that things are reputed to change, the regulations have not changed," he said.

"We are calmly assessing the situation and will take the necessary decisions," Mueller added.

One expert told CNBC that any war of words between Trump and the EU could lead to some serious pressure on the German auto industry.

Also speaking Monday was Audi Chairman Rupert Stadler who told CNBC he preferred to see "open and free trade" across the auto industry.

When pressed on whether he would move production capacity into the U.S. to avoid tariffs imposed by Trump, Stadler said such a move would have to fit with his firm's long-term strategy.

"I think in the premium sector it is a little bit easier because it is not so price sensitive, but nevertheless we have to watch and listen," Stadler said.


Source :- abcnews




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