BMW CEO Zipse optimistic on 'manageable' US car tariff agreement
Zipse's comments come as Europe awaits a letter from the US administration under Donald Trump that could outline the framework of a trade deal and clarify tariff levels on European automotive exports.
Trump said on Thursday the EU could receive a letter on tariff rates by Friday.
'I'm optimistic that there will be a manageable outcome but we have to wait for the result,' Zipse told journalists at a company event in Munich on Friday.
He said a possible 'netting mechanism' could be part of the deal, allowing exports from the US to offset imports. BMW stands to benefit from such an arrangement, as its largest production site is in Spartanburg, South Carolina.
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The Citizen
6 hours ago
- The Citizen
Russia suggests Trump is emboldening Ukraine, delaying peace
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The Citizen
9 hours ago
- The Citizen
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ALSO READ: Where Trump's tariffs will hurt most US 30% tariff on SA a seismic event, not a diplomatic spat Dr Ernst van Biljon, head lecturer and programme coordinator for M Com in supply chain management at the IMM Graduate School, says the sweeping 30% US tariff on 'any and all South African products,' is far more than a diplomatic spat. It is a seismic event poised to send ripple effects through global and South African supply chains, demanding an urgent re-evaluation of supply chain strategies. 'While global markets have always been dynamic, this escalation signals a deeper shift: the weaponisation of trade policy as a geopolitical tool.' He says from a global perspective, these tariffs immediately compel US-based importers and retailers to de-risk their supply chains. 'The 30% duty instantly inflates the cost of South African goods, making them less competitive on American shelves. This is not just about price but about the very viability of product lines. 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TimesLIVE
12 hours ago
- TimesLIVE
Global EV sales jump 24% in June
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