15% Tariff Would Be ‘A Burden’ on Volkswagen, CEO Says

Volkswagen CEO Oliver Blume discusses the tariff situation between the US and the European Union. Speaking to Bloomberg’s Stefan Nicola, Blume says the agreement gives the automaker “planning security” but the 15% tariff “would be a burden” for the company. “We don’t appreciate the asymmetric deal in-between the US and EU because it’s distorting the competition in Europe,” Blume adds. Speaking from the sidelines of the Munich Auto Show, he also talks about the group’s luxury brands such as Audi and Porsche.