Trump threatens 200% tariff on EU wines, champagne, says he will not ‘bend’ in combat

On Thursday, President Trump indicated no maker of luxurious items is protected from commerce wars with the specter of a 200% tariff on European wine, champagne, and alcohol.

As Yahoo Finance’s Pras Subramanian stories, European automakers could possibly be the subsequent goal. Here is what they needed to say on elevated tariff dangers:

Ferrari (RACE): We’re managing numerous situations

“We’re prepared with some countermeasures,” Ferrari CEO Benedetto Vigna stated at CNBC’s Converge Stay occasion in Singapore on Thursday morning. “We’re in a state of affairs planning part to handle as finest no matter will occur.”

Porsche (POAHY): If tariffs go into impact, anticipate costs to extend

“When the topic [of tariffs] turns into concrete, we are going to assess which value choices there are to go on to shoppers,” Porsche CFO Jochen Breckner stated Wednesday, indicating its clients will probably be paying for Trump’s tariffs, not the corporate. “We now have a really, very sturdy model, an awesome buyer base, a loyal buyer base, and nice product. So within the first place, we might look into extra pricing.”

BMW (BMW.DE): We’ll shield costs for a pair of months, then “reassess”

BMW, which has a significant plant in Mexico, is taking a unique tack, telling sellers it would soak up the prices of recent tariffs on imports from Mexico and “value shield” these autos till Could 1, in accordance with the Wall Road Journal. But when the tariff state of affairs stays for longer, the corporate might have to “reassess” that coverage.

Volkswagen (VWAGY): Including US manufacturing is not ‘real looking’ proper now

Volkswagen Model CEO Thomas Schäfer stated shifting manufacturing from Mexico, the place the favored Tiguan SUV is made, to the US is “not real looking” within the quick time period, in accordance with Reuters. “For now, we’re watching the state of affairs and doing back-up plans for long-term options,” Schäfer stated.

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