German automakers would abandon car tariffs between the EU and the United States in exchange for President Trump dropping a 25 percent tax threat on European auto imports, according to a report.
Toyota has begun slashing costs, starting with sales and marketing, and shifting resources into research that will help it keep up with new competitors, Reuters reported, citing people familiar with the matter.
Billions of dollars will be lost by many automakers that continue to invest in autonomous and electric vehicles while consumer buy-in remains low, a study from consulting firm AlixPartners says.
Canadian Prime Minister Justin Trudeau said Wednesday he doubted whether U.S. President Donald Trump would carry out a threat to impose tariffs on light vehicles, given the economic damage such a move would cause.
Daimler said profit would fall in 2018 as new import tariffs on light vehicles exported from the United States to China would hurt sales of high-margin Mercedes-Benz SUVs.
