German carmakers could lose billions if Trump backs a classified Commerce Department report



David Reid | CNBC

  • The United States is threatening to impose tariffs on imports of European autos unless a wider trade deal can be agreed.
  • The European Commission President has said President Trump has promised not to impose such tariffs.
  • A classified Commerce Department report is on Trump’s desk that could advise tariffs of up to 25 percent.

German auto manufacturers are nervously waiting to see if President Donald Trump will act on a secret Commerce Department report on how imported car parts might affect national security.

Trump has complained about the German cars’ presence on U.S. streets and tweeted threats to tax European, and particularly German, automakers’ vehicles.

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