Hongqi's big comeback - German carmakers woo Trump with investment
The German automaker says its 2019 operating profit will be the same as last year, due to a huge vehicle recall bill. Authorities have ordered the recall of 770,000 diesel cars installed with emitting-cheating software.
The president had previously threatened to raise import tariffs on foreign cars as a matter of national security on May 18. It was announced that the decision over the hikes will be delayed for 180 days.
Top executives from Volkswagen, Daimler and BMW met with US President Donald Trump seeking to stave off pending tariffs on automobile imports. The German bosses promised to invest more in the US.
Leading German car executives have been invited to Washington for talks with the US government. The auto pow wow offers carmakers the chance to speak their mind, but what they don't say might carry the most weight.
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