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Investing.com -- Volkswagen (ETR:VOWG) CEO Oliver Blume said Friday the company hopes investment commitments can help it negotiate further concessions on U.S. tariffs once Washington and the European Union reach a broad trade agreement.
"We hope that it will come to a well-balanced deal between the U.S. and the EU, which allows fair trade between the regions," Blume told investors after reporting second-quarter results that were heavily impacted by tariffs.
Europe’s largest car manufacturer is anticipating a 15% tariff for the EU, similar to the arrangement the Trump administration reached with Japan earlier this week.
Such a deal would replace the 25% tariff imposed by Trump on car and parts imports in April.
Blume made these comments while discussing the company’s second-quarter performance with investors.
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