Following the report, Europe auto sector stocks were trading down with German automakers feeling the brunt of the news.
Earlier this month, the Trump administration opened a trade investigation into whether vehicle imports had damaged the U.S. auto industry.More news: Reasons the Cavs Could Win the NBA Finals
Trump reportedly told French President Emmanuel Macron in April that he wanted to banish all German cars from American roads.
Trump's auto tariff is a test of Franco-German solidarity since French carmakers have hardly any USA sales, while German carmakers generate up to 30 percent of global sales there. 'How many Chevrolets do you see in Germany? WirtschaftsWoche's article points out that just prior to his inauguration in 2017, Trump railed against the Mercedes-Benz vehicles he saw in NY. "Not too many, maybe none at all, you do not see anything over there, it's a one-way street", said the real estate billionaire.
Trump has railed against German carmakers before and in early 2017, in an interview with German newspaper Bild, had said he would impose 35 percent tariffs on imported cars. Volkswagen controls Bentley, and Bugatti.More news: Xiaomi Intros Mi Band 3 With Touch-Sensitive OLED Display
At the time, the president called Germany a great vehicle producer but said that the business relationship with the United States was an unfair one-way street.
News of the attack on German automakers arrives just hours before Trump is set to impose 25% steel and 10% aluminum tariffs on product arriving from Mexico, Canada, and the European Union.
The White House did not immediately respond to CNBC's request for comment.More news: Real Madrid coach Zinedine Zidane says will leave club