Depending on whom you ask, Donald Trump sounds like a broken record or he is sticking to his promises.
When the US president threatened to slap a tax on European cars imported to the US on Saturday, he echoed a comment from January last year. At the time, he warned that BMW and other carmakers could face a 35 percent import duty for cars not built in the United States. He targeted BMW because it is building a new plant in Mexico.
His remarks last year caused the stocks of BMW, VW and Mercedes-maker Daimler to fall. The same happened on Monday, with shares losing as much as 2.4 percent, although almost all blue-chip shares fell in Europe amid fears of a trade war between the US and the rest of the world.
Mr. Trump repeated his threat on Saturday after European Commission President Jean-Claude Juncker said the European Union could impose tariffs on US imports, including Harley-Davidson motorcycles, American whiskey and Levi’s jeans.