President Trump is hoping to ban the sales of Mercedes-Benz, Audi and other German cars by pushing for heavy tariffs – as much as 25% – on car imports.
U.S. Commerce Secretary Wilbur Ross indicated that there is evidence suggesting that imports from abroad have eroded the U.S. auto industry.
“When you walk down Fifth Avenue, everybody has a Mercedes-Benz parked in front of his house,” Trump said, according to a Wall Street Journal translation of the comments. “You were very unfair to the U.S.A. It isn’t mutual. How many Chevrolets do you see in Germany? Not many, maybe none, you don’t see anything at all over there. It’s a one-way street.”
Read the article at Fortune.
