Germany’s auto giants were already reeling. Now Trump wants to turn them into American companies Published Tue, Dec 17 20241:20 AM EST thumbnail Sam Meredith @in/samuelmeredith @smeredith19 WATCH LIVE Key Points

Spartanburg, South Carolina. Shares of Volkswagen and BMW have both fallen around 23% year-to-date, with Mercedes-Benz Group down roughly 13% over the same timeframe. ‘Everyone just needs to be ready’ “Trump wants more tariffs, so everyone just needs to be ready,” Julia Poliscanova, senior director for vehicles and e-mobility supply chains at the campaign group Transport & Environment, told CNBC via video call. “I think it is just important for Europe to continue its own course, be it on the European Green Deal or on the electrification agenda. Trump risks putting America behind on a lot of this clean tech and EVs, so it is an opportunity for Europe actually to accelerate at the same time,” Poliscanova said. “It will be bad news in the short term, for example, for German carmakers, but it is important to understand that this is what the world is. And we just need to do what is best for Europe and European industrial interests — and that is not slowing down,”