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U.S. issues new tariff threat, this time against British-built cars

WASHINGTON — Britain is the United States' closest ally but their long friendship may be sorely tested as the two countries try to forge a new trade agreement after Britain's exit from the European Union. U.S. Treasury Secretary Steven Mnuchin said on Saturday in London that he was optimistic that a bilateral deal with Britain could be reached as soon as this year. But Mnuchin gave up no ground after a second meeting with his UK counterpart, Sajid Javid. Javid has insisted that Britain will proceed with a unilateral digital services tax, despite a U.S. threat to levy retaliatory tariffs on British-made autos. Mnuchin told reporters after Saturday's meeting that such taxes would discriminate against big U.S. tech companies like Alphabet Inc's Google, Apple, Facebook and Amazon. The UK Treasury declined to comment on the private meeting. The divide highlights the challenges ahead as the Trump administration seeks a new bilateral agreement with Britain, part of a broader push to rebalance relations with nearly all its major trading partners. The stakes are high — British Prime Minister Boris Johnson has pegged the trade deal with United States as a way to ease the pain of breaking with Europe, Britain's largest trade partner. U.S. President Donald Trump, has promised a "massive" trade deal to support Brexit, the product of a populist movement similar to his "America First" agenda. The goodwill and special relationship the two countries have enjoyed for decades may not count for much, experts say. "Trump is not going to be doing Johnson any favors," said Amanda Sloat, a senior fellow with the Brookings Institution in Washington. "He's not going to give him a trade deal without major concessions." Even before the digital tax issue arose, the Trump administration threatened to tax foreign car imports, which could hit British-made Jaguar, Land Rover, Mini, and Honda Civic hatchback cars. Stiff U.S. trade demands include increased access for U.S. farm goods, concessions that will be difficult for Britain's entrenched natural food culture to swallow. The United States also wants Britain to change the way its National Health Service prices drugs and allow in more U.S. pharmaceuticals, which could prove politically unpopular for Johnson's government. Washington's demand that London block Chinese telecoms equipment maker Huawei Technologies Co Ltd for national security reasons could also cloud talks.

Volkswagen decides to keep Lamborghini and Ducati, transfers Bentley to Audi

Investors in the market for a high-end Italian manufacturer that peddles performance will need to keep looking. Volkswagen announced it will hang on to Lamborghini and Ducati in the foreseeable future. Executives in Wolfsburg, Germany, are making far-reaching changes to the Volkswagen Group to reboot it with a big focus on technology. Credible rumors claimed that the people in charge of the carmaker wanted to carve out Lamborghini — which owns Ducati — and ultimately list it, or at least a chunk of it, on the stock market in order to fast-track the group's electrification strategy. Going electric is expensive, so selling Lamborghini would have helped fund the expansion, and high-octane supercars don't easily go hand-in-hand with zero-emissions cars. "Volkswagen needs to change from a collection of valuable brands and fascinating combustion-engine products that thrill customers with superb engineering to a digital company that reliably operates millions of mobility devices worldwide," summed up Herbert Diess, the group's boss, during a September 2020 meeting. His team ultimately decided not to fully divest both brands. It's too early to tell whether part of Lamborghini will be listed on the stock market, as some insiders have suggested, or if those plans are off the table, too. Changes are coming to Bentley as well. While it's not being spun off either, it will fall under the Audi umbrella starting on March 1, 2021. Volkswagen explained linking the two companies will "allow for synergies to be achieved as part of the electrification strategy of the two premium brands," a statement which suggests they will share a growing number of components during the 2020s. Unverified rumors claim that Bentley will notably get its own version of an ultra-luxurious electric SUV code-named Landjet that Audi is currently developing. We've reached out to Bentley for more details, and we'll update this story if we learn more. Bugatti's future wasn't mentioned in the release; unconfirmed reports suggest it will be traded for a stake in Croatian start-up Rimac. Volkswagen's supervisory board also reaffirmed its support for Diess, who was appointed CEO in 2018 and who has played a significant role in the company's transformation. Finally, the board approved the development of what a statement refers to a future leading electric vehicle sold by the Volkswagen brand that will be developed and manufactured in Wolfsburg.

Bentley introduces Bentayga First Edition at VIP event in LA

The first customers to place their orders for the new Bentley Bentayga will get a special First Edition model. Each is outfitted with unique trim inside and out, and comes with a special wristwatch. Bentley just unveiled the new Bentayga First Edition at a special VIP event ahead of the Los Angeles Auto Show opening this week. The Bentley Bentayga First Edition features 22-inch two-tone wheels, special Union Jack badging, and illuminated treadplates. Inside it benefits from unique diamond quilted leather, embroidered seats, contrast stitching, and ambient lighting. Along with those specifications, this initial run will be limited to just ten exterior colors. Those fortunate first customers will also get their choice between one of three timepieces crafted by Breitling: one with a multifunction electronic movement, another with an integrated emergency transmitter, and a third automatic designed for women. All told, only 608 examples of the First Edition will be offered. The quantity is a reference to the metric output from the 6.0-liter twin-turbo W12 engine, which produces 600 horsepower – or 608 ps. That's enough to rocket the luxury off-roader to 60 in 4.0 seconds flat and on to a top speed of 187 mph, making this the fastest and most powerful SUV currently on the market. Related Video: BENTLEY DEBUTS BENTAYGA FIRST EDITION AT EXCLUSIVE VIP CUSTOMER EVENT - First 608 Bentaygas to be exclusively designed and highly equipped - Bentayga is the most powerful, most luxurious, most exclusive and fastest SUV in the world - Limited edition celebrates the creation of an all-new luxury SUV market segment - Each owner to receive one of three special-edition Breitling chronographs (Los Angeles/Crewe, 16 November 2015) Bentley Motors is debuting the Bentayga First Edition to a select group of VIP customers tonight at the iconic Sunset Marquis Hotel, Los Angeles. The exclusive limited edition of the most powerful SUV in production is restricted to just 608 cars globally. The eye-catching specification with exclusive details and unique components demonstrates the Bentayga's abilities to the fullest. The First Edition's unique design includes Union Jack badging, illuminated treadplates and 22" black painted and polished wheels. Just ten exterior colours are offered, highlighting the exclusivity of the model.