German car bosses finalising White House meeting next week

Reuters  |  BERLIN 

(Reuters) - Top executives from German carmakers , and are finalising plans for a meeting on trade policy next week, German and U.S. officials said on Thursday.

has been harshly critical of German automakers and what he sees as an unfair trade imbalance on autos.

He has threatened for months to impose tariffs on vehicles assembled in the EU, a move that could upend the industry's business model for selling in the

However, he has refrained from such a measure while and undertake talks to cut other trade barriers.

The CEOs plan to make clear they cannot negotiate on behalf of the EU, people close to the matter said last week.

VW's new top told reporters on Wednesday that the company was deciding where to locate a new factory in to build electric for the U.S. market.

Earlier on Thursday, Trump tweeted that "auto companies are pouring into the U.S., including BMW, which just announced a major new plant. The U.S.A. is booming."

Other sources familiar with the matter said Richard Grenell, the U.S. to Germany, had set up the meeting, but the exact date was still being negotiated. Top car bosses were also slated to appear at an automotive summit in the northern German city of Wolfsburg, where is based, on Tuesday.

Christina Higgins, for the U.S. embassy in Berlin, said the Dec. 4 date was suggested by the German automakers but had not been finalised. "It's merely a suggestion at this point," she said.

newspaper, which first reported the meeting would take place Tuesday, said Grenell told carmakers that U.S. Trade and would attend the meeting.

It was not immediately clear if Grenell would take part.

The currently imposes import tariffs on assembled in the EU of 2.5 percent, compared with 10 percent tariffs for U.S.-built cars entering the European trading bloc.

(Reporting by in Berlin, Jan Schwartz in Hamburg and David Shepardson in Washington, editing by Thomas Escritt, and Andrew Heavens)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 30 2018. 03:32 IST