Published on August 9th, 2018 | by Subhash Nair0
Daimler Not Expanding Business in Iran, in Line with Trump Sanctions
Daimler, parent company of Mercedes-Benz, have dropped plans to expand its business in Iran. This is in line with new US sanctions which just came into effect.
A statement from Daimler stated that the company has “ceased our already restricted activities in Iran in accordance with the applicable sanctions.”
It’s worth noting that President Trump has hit hard against German made vehicles being sold in the US. He’s called them “very bad” and threatened a ban on all imports.
So, are Daimler playing along get in Trump’s good books? The US market represents a huge chunk of sales. Can’t afford to be gambled with, for sure.