Volkswagen is reportedly on the verge of finalising a deal with the United States, as tariffs imposed by the Trump administration continue to weigh heavily on the German carmaker’s business.
The manufacturer, which also owns Audi, Seat and Porsche, revealed it has lost “billions” due to American tariffs as well as the broader challenges facing today’s automotive market.
Volkswagen CEO Oliver Blume told Bloomberg TV that although tariffs on European cars had recently been reduced to 15%, they still represent a “burden“.
In an effort to secure a further reduction, the company has offered to make significant investments in the US.
“We are counting on our own offer, investing heavily in the US and we are in close contact and good talks with the US government. We hope to reach a quick solution in the coming weeks with the support of the US government for our investment,” he said.
Speaking at a trade show on Monday, Blume added that Porsche in particular was facing difficulties, squeezed between American tariffs on the one hand and the lure of a more attractive Chinese automotive market on the other.
