Chapter 138 Trade Disputes

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While Peterson was in Washington relying on his connections to lobby officials in the trade department, Karim led his partners back to the UK. The strategy they adopted was basically similar to Peterson's, that is, using the bank to In the name of trade associations, they lobbied the Thatcher cabinet, lobbying them to launch a counterattack against German trade protectionism.

Under Kalim's persuasion, several banks that participated in the merger and acquisition of Dazhong agreed to give it a try. They jointly wrote an open letter to the British Chancellor of the Exchequer, writing all their experiences in Germany these days in the letter, and at the same time published this open letter in the mainstream British media.

Soon, this letter received enthusiastic responses from many British car companies. In recent years, German Volkswagen has made almost all British car manufacturers helpless. The British automakers have long been very dissatisfied with the fact that German cars are selling well in the UK market. Now that the Bankers Association has taken the initiative to point out this matter, as direct victims of the auto industry, everyone has participated in it and began to criticize the public. Condemnation by the company and the German government.

Karim took advantage of this shareholder wind to start visiting these car companies, and Karim promised to provide funds to help them turn around, and these car manufacturing companies are generally in a state of loss now, and Karim's funds have a fatal temptation for them, so they Quickly became a champion of Kareem.

With the support of the industry, Karim is more confident in lobbying the Thatcher government. After several celebrities in the British auto industry raised questions about the German Volkswagen Protection Act, No. 10 Downing Street finally In response, the British chancellor will question the Federal Government of Germany at the European Community Economic Conference a month later.

As soon as this news came out, Karim's partners finally got a reassurance. Because once this matter is submitted to the European Community Trade Commission, it means that the German government must explain their trade protection policy. Finally, there is a bargaining opportunity for the Volkswagen Protection Act.

The actions on Karim's side have achieved initial results, which finally relieved Wolfgang's pressure at Porsche. Relying on his weak shareholding advantage, Wolfgang joined forces with other shareholders of the Porsche family to launch a counterattack against the Piech family. And Piech did not show any weakness. Before Wolfgang was absolutely sure, Piech always had a chance. Moreover, Piëch has always believed that Wolfgang's purchase of shares was borrowed from foreign banks at high interest rates, and the Porsche family would not last long.

Wolfgang is not a rich second generation who doesn’t understand anything. His family has been running this business for a hundred years. Wolfgang has been with his father since he was a child, watching him deal with the trivial matters in the business. things. Wolfgang was well aware of the harm the equity dispute would do to a physical company, so when he and Piëch were still at odds, Wolfgang first showed his favor to the Porsche union.

Wolfgang soon put forward his first proposal on Porsche's board of directors, which was to improve the welfare of Porsche's employees. As soon as this news came out, the union representatives of Porsche finally had some good feelings for Wolfgang.

Piech had no reason to make himself a villain in the eyes of the workers, so the Porsche family and the Piech family, who were originally in dire straits, unanimously passed Wolfgang's first proposal, which is to use 10% of the remaining annual profits Distributed to workers as bonuses. This bonus covers almost all front-line workers in the Porsche factory, and the Porsche union quickly responded to this. They thanked Wolfgang for his understanding of the workers.

Wolfgang's move dare not say that the trade unions will fully support him, at least he is no longer known as a traitor to the German auto industry. At this moment, an event that no one expected caused the entire German auto industry to panic.

Here's an update, U.S. Trade Representative Clayton,

The United States Department of Commerce submitted a trade arbitration to Gatt General Agreement on Tariffs and Trade, the predecessor of WTO, one hour ago, accusing the German government's public company protection law of violating free trade and violating relevant regulations of Gatt. At the same time, the U.S. Department of Commerce will also investigate the dumping of German cars in the U.S. market.

Just when most Germans were just beginning to enjoy the most relaxing dinner of the day, a piece of financial news on TV made many people unable to eat. The U.S. government began to impose trade sanctions on German cars without warning. What happened, did we offend the Americans?

Almost immediately after reading the news, the German economic and trade department contacted the U.S. Trade Representative Office and the Ministry of Commerce to ask the other party what the basis for doing so was.

According to this, is the boycott of our companies’ investment in your country an act of complying with the Gatt Convention? Could it be that only Germany and the United States are allowed to have a trade surplus, and the United States and Germany cannot be allowed to have a trade surplus? Our US government will never accept its own companies Suffering unfair treatment, we have to take retaliatory measures Clayton expressed his dissatisfaction to the German side in strong words, and then the US Secretary of Commerce announced a more deadly news. According to the preliminary ruling of the US Supreme Court, Columbia Bank Investments in Germany have suffered unfair treatment. In view of Germany's current attitude, we will take retaliatory tariffs on German auto products and increase the tax rate by 30%.

In this way, a cruel trade war started silently. Almost overnight, all automotive products in Germany were affected. Germany's trade department has a lot of headaches about this, but the German government has always been unable to give up on the Volkswagen Protection Act.

If the American sanctions are a catastrophe for the German auto industry, then the British accusations are more or less like adding fuel to the fire. The British Chancellor of the Exchequer soon also brought up the Volkswagen Company Protection Act at the European Community Economic Conference, and also mentioned that his own bank suffered unreasonable obstruction and unfair treatment from the German auto industry when it invested in Porsche Automobile Company.

If discrimination against foreign capital still exists in the German market, I can't figure out what face Germany, which is quite enthusiastic about European integration, would have to sit with us to discuss the issue of a unified market. The British Chancellor of the Exchequer unceremoniously questioned the German Finance Minister at the meeting. ...

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