Volkswagen chief executive Oliver Blume urged Europe to adopt a confident stance after U.S. President Donald Trump’s speech in Davos. “The EU has responded appropriately to the tariff threats” he told “Handelsblatt”. “Europe has many strengths and can act with confidence, so clear positions are essential”.
Blume linked new U.S. investment plans to relief from tariffs. “If tariff burdens remain unchanged, a large additional investment is unfeasible” he said. The same applies to a potential Audi plant in the United States, for which the group has been discussing concrete plans for months.
Audi and Porsche are particularly hard hit by the U.S. tariff regime. Audi alone incurred €1.3 billion in tariffs in the past year, and Blume noted that Porsche “has earned little money in the U.S”. The 57‑year‑old had served as CEO of the sports‑car maker until the end of the year, and since then has focused entirely on the broader Volkswagen group.