European businesses brace for Trump return [Yahoo! Finance]
BASF SE S/ADR (BASFY)
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Source: Yahoo! Finance
Here is a look at how sectors of the European economy could be affected after Trump pledged 10 to 20 percent tariffs on imported goods from everywhere except China, which would face a 60 percent duty: - Tough road for cars - More than one million new vehicles cross the north Atlantic every year, according to the trade association uniting European auto manufacturers. German carmakers are particularly exposed as the United States is its second export market after China, where they are already reeling from falling sales. German auto manufacturer association VDA warned Wednesday that "any change in the framework conditions can affect the economic situation of the industry and thus also employment in Germany, but also in the USA." That is because automakers have factories in the United States that would help them avoid extra levies. BMW head Oliver Zipse noted that his group has a large production facility in South Carolina, where its best-selling SUVs are assembled, proving "
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