financetom
Business
financetom
/
Business
/
BMW CEO proposes cutting EU tariff on US vehicle imports to 2.5%
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
BMW CEO proposes cutting EU tariff on US vehicle imports to 2.5%
Jan 28, 2025 9:39 AM

BERLIN (Reuters) - BMW will propose this week that the European Union lower its tariff on U.S. car imports to 2.5% from 10%, in line with the current U.S. import tariff, the German automaker's CEO Oliver Zipse said on Tuesday.

New U.S. President Donald Trump has threatened to impose or raise tariffs on a range of products and regions, including the EU, sparking efforts by many foreign policymakers and companies to persuade him otherwise.

Zipse, speaking at a conference in Berlin organised by German publication "Die Welt", did not expand on whether his proposed lowered tariff should apply to all car imports.

His comments come after Ola Kaellenius, chief executive of Mercedes-Benz and new president of Europe's auto association ACEA, said this month that the EU should seek a "grand bargain" with Trump to avoid a trade war.

The European Commission will host European automakers, suppliers and trade unions for a first round of talks on Jan. 30 on the future of Europe's car industry, as companies announce plant closures and major layoffs in the face of weak demand, high costs, and competition from China.

Trump did not immediately implement the wide range of tariffs he had promised, but has said they are still an option.

Zipse previously played down worries over the impact of potential import tariffs under a Trump presidency on BMW, saying its large production footprint in the U.S. could even give it an advantage.

"Our balanced global setup makes us resilient and competitive. Nevertheless, free trade is of immense importance worldwide... That is why we should be discussing fewer rather than more trade barriers," Zipse said.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
BRIEF-Eqt Said To Weigh $1 Billion-Plus US IPO Of Waste Firm Reworld-Bloomberg News
BRIEF-Eqt Said To Weigh $1 Billion-Plus US IPO Of Waste Firm Reworld-Bloomberg News
Sep 17, 2025
Sept 17 (Reuters) - * EQT SAID TO WEIGH $1 BILLION-PLUS US IPO OF WASTE FIRM REWORLD-BLOOMBERG NEWS Source text: https://tinyurl.com/mr3rvntj Further company coverage: ...
Nicola Mining Receives 5-Year Mining Lease Extension For Its Flagship Copper Project New Craigmont Property
Nicola Mining Receives 5-Year Mining Lease Extension For Its Flagship Copper Project New Craigmont Property
Sep 17, 2025
01:53 PM EDT, 09/17/2025 (MT Newswires) -- Nicola Mining ( HUSIF ) on Wednesday said it received six mining lease extensions for five years from British Columbia's Ministry of Mining and Critical Minerals, which extends its wholly owned New Craigmont property, located adjacent to Teck Resources (TECK-B.TO) Highland Valley copper mine. This year we have actively conducted exploration that was...
Ibex Insider Sold Shares Worth $338,760, According to a Recent SEC Filing
Ibex Insider Sold Shares Worth $338,760, According to a Recent SEC Filing
Sep 17, 2025
01:51 PM EDT, 09/17/2025 (MT Newswires) -- Bruce Neil Dawson, Chief Sales and Client Services Officer, on September 16, 2025, sold 8,879 shares in Ibex (IBEX) for $338,760. Following the Form 4 filing with the SEC, Dawson has control over a total of 4,492 common shares of the company, with 4,492 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1720420/000197370825000006/xslF345X05/wk-form4_1758130946.xml Price: 40.11, Change:...
FG Communities Completes Acquisition in Mooresboro, NC
FG Communities Completes Acquisition in Mooresboro, NC
Sep 17, 2025
CHARLOTTE, N.C., Sept. 17, 2025 (GLOBE NEWSWIRE) -- FG Communities, whose mission is to preserve and improve affordable housing by acquiring and operating manufactured housing communities, is excited to announce its most recent acquisition in Mooresboro, NC. Mooresboro is located in Western North Carolina, minutes from our previous acquisition in Ellenboro, and just over an hour west of Charlotte. Residents...
Copyright 2023-2026 - www.financetom.com All Rights Reserved