FILE – The company logo shines on the hood of an unsold vehicle at a Mini Honda BMW dealership on July 22, 2024, in Highlands Ranch, Colo. (AP Photo/David Zalubowski, File)
Frankfurt, Germany — German carmaker BMW called Tuesday for the European Union to lower tariffs on vehicles imported from the United States, as President Donald Trump threatens to hit the bloc with new duties.
The manufacturer said CEO Oliver Zipse is set to put the proposal forward at a meeting of Europe’s biggest carmakers with EU officials in Brussels on Thursday.
Article continues after this advertisementThe gathering is the first under a new initiative from EU chief Ursula von der Leyen where the two sides will seek to chart a way forward for the bloc’s struggling auto industry.
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Zipse told an economic forum in Berlin organised by newspaper Welt that “tariffs… hinder free trade, slow down innovation and set a negative spiral in motion”.
Article continues after this advertisement“That is why we should be discussing fewer rather than more trade barriers,” he said.
Article continues after this advertisementZipse called for the 27-member European Union to “take a first major step” by lowering duties on vehicles imported from the United States.
Article continues after this advertisementCurrently, the EU imposes duties of 10 percent on vehicles from the United States, while the figure was only 2.5 percent for vehicles being sent from Europe to the United States, Zipse said.
“Let’s create a level playing field: a customs rate of 2.5 percent on both sides,” he said.
acewin slot Article continues after this advertisementHis comments come as Trump is threatening to hit goods from the EU, which runs a large trade surplus with the United States, with hefty tariffs.
Such a move would deal a blow to German auto titans like Volkswagen and Mercedes-Benz, as well as BMW.
Peza Director General Tereso Panga and PNOC President and Chief Executive Officer Oliver Butalid signed a memorandum of understanding last October 14 at the PNOC Networking Hall.
Mitsubishi Motors Philippines Corp. (MMPC) said that it, along with dealer partner SJ Legacy Motors Inc., inaugurated their new branch at the SM City San Jose Del Monte on Sept. 27.
The sector is already struggling due to fierce competition in key market China, a sluggish transition to electric vehicles and weak demand.
BMW saw its profits suffer last year due to falling Chinese demand.
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Carmakers also complain that new EU CO2 emissions targets are proving harder to hit than expected due to weak demand for EVs.6dcasino
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