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Leaders of a broad coalition of Japanese, German and Korean automakers warned on Friday that China's imposition of punitive tariffs on U.S. automobiles would undermine U.S. exports to China and put American jobs at risk.
John Bozzella, chairman of the industry group Here for America, said in a statement that "tit-for-tat tariffs are hurting the U.S. automotive industry in the absence of meaningful negotiations." The group includes Volkswagen (VOWG_p.DE), Daimler (DAIGn.DE) and BMW (BMWG.DE).
"When China first levied these tariffs in 2017, U.S. automobile exports fell by 50 percent. We can't let this happen to American workers again, "added Bozzella, executive director of the Association of Global Automakers, which includes Toyota Motor (7203.T), Hyundai Motor (005380.KS), Nissan Motor (7201.T) and other American-made cars. Foreign brands.

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