"I remain optimistic because the pressure on the European Union is, of course, now mounting massively. The American side implemented the deal over eight months ago, the European side still hasn't."
"I am also confident that, over the course of the year, we will succeed in agreeing some sort of offset deal, which works in such a way that an offset is created for importers who are also exporters."
BMW anticipates a resolution to trade tensions between the EU and the US, despite President Trump's tariff threats. CEO Oliver Zipse expressed optimism about overcoming the impasse, citing mounting pressure on the EU. He noted that the US had implemented a deal while the EU had not. BMW is seeking tariff relief, particularly as it operates its largest plant in South Carolina. The company reported a significant drop in net profit due to competition and tariffs, which have impacted its financial performance.
Read at The Local Germany
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