Dieter Zetsche, the CEO of the German multinational automotive corporation Daimler AG, recently voiced concerns about the US President Donald Trump’s economic and trade policies, saying that they are a risk for German automakers.
Talking at a conference last month, the Daimler CEO further mentioned that while there has been no negative effect so far on the German auto industry, the risk is still ever present.
President Donald Trump, in his attempt to protect US carmakers, has criticised the import of foreign manufactured vehicles to the US market as unfair trade. Trump has also threatened the North American Free Trade Agreement with Mexico. Mexico, as of now plays an important role in manufacturing German vehicles, which are then sold in the US. Hence, if President Trump’s trade policies are put into action, it can have a significant negative effect on foreign automobile manufacturers.
On a side note, Zetsche also addressed the new cartel investigation, which is being conducted by European authorities.
The European Commission responsible for competition issued a statement last July, saying that it is investigating several German automakers on suspicion that they had been conspiring to fix prices related to technologies that included diesel.
Daimler CEO said that any cooperation done with other carmakers was for the benefit of customers and had no intention of harm.