BMW Calls for EU-US Deal to Prevent Tariff Spiral

German carmaker BMW Thursday urged the European Union and United States to strike a deal to prevent a spiraling trade conflict, in a statement issued in response to President Donald Trump's announcement of new car tariffs.

"A trade conflict between these economic regions would not have any benefits," the company said in the emailed statement.

"Both sides should therefore promptly find a transatlantic deal that creates growth and prevents a spiral of isolation and trade barriers."