BMW chairman offers support for transatlantic trade agreement
15/05/2014
Addressing a meeting of BMW shareholders in Munich on May 15, Dr Reithofer said: “Trade barriers generate high costs. They do not belong in the twenty-first century.”
He explained that German automobile manufacturers are paying around €1 billion in customs duties per year to move components and cars in both directions.
“A transatlantic free trade agreement would have only positive effects for our industry,” the BMW chairman said. “To maintain a strong industrial base and secure jobs in Europe requires free movement of goods as well as open markets.”
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