Trump Threatens BMW With Border Tax On Cars Built In Mexico

Key Points: car, German Economy Minister Sigmar Gabriel, plans, S President-elect Donald Trump, and produce

FRANKFURT/BERLIN, Jan 16 (Reuters) – U.S President-elect Donald Trump warned German car companies he would impose a border tax of 35 percent on vehicles imported to the U.S. market, a plan that drew sharp rebukes from Berlin and hit the automakers’ shares.

President-elect Donald Trump warned in an interview that the U.S. will impose a border tax on cars that BMW plans to build at a new plant in Mexico and export to the U.S. market.

In an interview with German newspaper Bild, published on Monday, Trump criticized German carmakers such as BMW, Daimler and Volkswagen for failing to produce more cars on U.S. soil.