Volkswagen Group’s CEO has given President Donald Trump’s administration a clear warning: the company will cancel plans for a new US production plant unless automotive tariffs are reduced significantly. Oliver Blume, who leads the German car company that owns brands like Audi and Porsche, said the current tariff costs make new investments impossible.
“If the burden of tariffs remains unchanged, a large additional investment is not financially viable,” Blume said. He needs lower costs in the short term and stable business conditions for the long run. So far, talks with the US government haven’t produced any positive results.
