Report: Trump Wants to Push German Cars Out of U.S. Market

President Trump has threatened to push luxury German car brands such as BMW and Mercedes-Benz out of the U.S., a German magazine reports. The Wirtschaftswoche article claims Trump told French President Emmanuel Macron that he wanted to pursue German carmakers until there are no Mercedes-Benz left driving down New York’s Fifth Avenue. The article cites several unnamed European and U.S. diplomats and did not include any direct quotes, but the report has already hit shares in the luxury-car manufacturers. Such a move by Trump could destroy exports by German carmakers, which control 90 percent of the U.S. premium market. German-owned brands include BMW, Rolls-Royce, Mercedes-Benz, Volkswagen, Bentley, Bugatti, Porsche, and Audi.