Trump threatens the 200% rate for EU wines, Champagne, says he will not “bend” in battle

On Thursday, President Trump did not indicate that no luxury goods producer is safe from commercial wars with the threat of a 200% rate for European wine, champagne and alcohol.

Like Yahoo Finance PAS Subramanian Reports, European car producers could be the next target. Here’s what they had to say about high tariff risks:

Ferrari (RACE): We manage various scenarios

“We are ready with some countermeasures,” said CEO Ferrari, Benedetto Vigna at CNBC’s converge live Event at Singapore Thursday morning. “We are in a planning phase of the scenario to best manage anything will happen.”

Porsche (Poahy): If the tariffs come into effect, wait -to increase prices

“When the subject (fares) becomes concrete, we will evaluate what price options we need to send to consumers.” Porsche CFO Jochen Breckner said WednesdayIndicating that his clients will pay for Trump’s rates, not for the company. “We have a very, very strong brand, an excellent base of customers, a loyal customer base and an excellent product. So, first of all, we analyze additional prices.”

BMW (BMW.de): We will protect the prices for a couple For Monday, then “re -evaluate”

BMW, which has a major factory in Mexico, takes a different approach, telling the dealers that it will absorb the costs of new tariffs for imports from Mexico and the respective “price protection” until May 1 Wall Street Journal. But if the tariff situation remains longer, the company may need to “re -evaluate” this policy.

Volkswagen (Vwagy): Adding American production is not “realistic” right now

The CEO of Brand Volkswagen, Thomas Schäfer, said that the change of production in Mexico, where the popular SUV Tiguan is made in the USA is not “realistic” in the short term, according to Reuters. “For now, we follow the situation and make backup plans for long -term solutions,” Schäfer said.

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