Friday, June 1, 2018

Steel Away

This should go over well in certain places.

Trump wants to impose a total ban on the imports of German luxury cars, according to a new report from CNBC and German magazine WirtschaftsWoche.

Several U.S. and European diplomats told the news outlets that Trump told French President Emmanuel Macron about his plans last month during a state visit.

Trump reportedly told Macron that he would maintain the ban until no Mercedes-Benz cars are seen on Fifth Avenue in New York.

Shares of Daimler, Porsche and Volkswagen were lower on Thursday, shortly after the weekly German business magazine published the report.

Calling these automobiles “imports” is a bit of a misnomer.  While they may have corporate headquarters in Germany, the cars you see on Fifth Avenue in New York are assembled in places like Alabama and South Carolina.  I think the people who put the cars together there vote, too, as well as the people who buy them.