Overview

• The US imposed 25% tariffs on imported vehicles in April, prompting direct negotiations led by Volkswagen, BMW and Mercedes-Benz
• Volkswagen CEO Oliver Blume has held regular meetings in Washington with the US Commerce Secretary and presidential advisers, calling the discussions fair and constructive
• German automakers propose a reciprocal credit mechanism that would count US exports against tariff-hit imports to secure relief
• Volkswagen has offered multibillion-dollar commitments, including a new Scout brand factory, and already supports over 20,000 direct and 55,000 indirect jobs in the US
• Sources familiar with the talks say formal agreements with individual companies could be reached by June