Auto industry in turmoil on a global scale in the wake of hypotheses of a possible deal on tariffs. After the threats of the last few days in fact, both Europe and the United States would seem willing to tone down, trying to find a compromise that avoids the increase in tariffs threatened by the USA and the consequent revenge of the EU which, according to the reconstructions, would have been willing to respond with duties for 300 billion dollars on imports from America.
We recall that last May the White House had commissioned the Department of Commerce to carry out a study aimed at verifying whether the auto sector was at risk for "national security".
According to what reported by Sun 24 Hours, Brussels is reportedly thinking of proposing the start of plurilateral negotiations to Donald Trump aimed at reducing tariffs. The initiative would be supported and pushed above all by Germany, which would then be the nation most affected by the possible increase in tariffs on the European automotive industry to 20 or 25%. From BMW to Mercedes, German manufacturers export 1.200.000 vehicles to the USA every year, an enormous figure that weighs heavily on their budgets. It is no coincidence that, according to a study by Evercore ISI, the three main German giants in the sector could face the imposition of duties at a high price: 4,5 billion dollars.
On the eve of the entry into force of reciprocal tariffs between China and the US, therefore, Washington and Brussels seem to want to prevent even a strategic sector such as the automotive sector from being involved in a trade war with no holds barred.
The economic daily of via Monte Rosa reports that the president of the EU Commission, Jean Claude Juncker, will present himself in the coming weeks with a "mouth-watering" proposal. The hypothesis is that the EU is asking to enter into multilateral negotiations involving exporting countries, but also Japan and South Korea. At the center of the table there would be the commitment to reduce the currently existing tariffs, i.e. 2,5% for cars produced in the EU and exported overseas and 10% on the reverse route.
But the press rumors are not limited to talking about openings on the part of Europe. As reported today by handelsblatt, the top management of Volkswagen, Daimler, BMW and Continental would have met the American ambassador in Berlin, Richard Grenell, who would have reported to the participants that the US would in turn want to enter into negotiations to totally cancel reciprocal duties on the sector.
Today's news and the new "possibility" climate has pushed the entire sector to a rebound, with the Euro Stoxx 600 Auto sector index rising by 3,29%. In Milan, the fifth FCA engages and takes the top of the Ftse Mib with a rise of 4,77%. Exor (+2,77%) and Ferrari (+2,33%) are also up. German manufacturers run in Frankfurt: Volkswagen +4,33%, Daimler +3,9%, BMW +5,5%.
