Trump has begun another trade war. Here's a timeline of how we got here
Canada's leader laments lost friendship with US in town that sheltered stranded Americans after 9/11
Chinese EV giant BYD's fourth-quarter profit leaps 73%
You're an American in another land? Prepare to talk about the why and how of Trump 2.0
Chalk talk: Star power, top teams and No. 5 seeds headline the women's March Madness Sweet 16
Purdue returns to Sweet 16 with 76-62 win over McNeese in March Madness
BERLIN (Reuters) - Volkswagen's Audi is holding its cars which arrived after April 2, when Donald Trump announced a 25% tariff on autos imports, in U.S. ports, it said on Monday, as companies scramble to work out how they will be affected by the duties.
The Volkswagen brand has around 37,000 vehicles, sufficient for approximately two months of sales, in its U.S. inventory, the spokesperson added.
Audi is directly in the firing line of Trump's tariffs, with its best-selling U.S. model, the Q5, produced in Mexico, and its remaining models all coming from Europe or elsewhere.
The brand sent a memo to dealers, first reported on by U.S. trade publication Automotive News, saying it would freeze shipments from April 2 until further notice, a spokesperson said.
Carmakers on average have just under three months' worth of inventory on hand in the United States, according to data from automotive services provider Cox Automotive, giving them some breathing room to keep supply intact until they establish a longer-term strategy for dealing with the tariffs.
Autos executives will meet EU President Ursula von der Leyen later on Monday to discuss how to respond to the tariffs, with European shares crashing to a 16-month low as investors fear higher prices, weaker demand and a potential global recession.
(Reporting by Christina Amann, Victoria Waldersee; Editing by Miranda Murray and Rachel More)
