General Motors' chief executive has refuted claims that the sale of its European Opel business was prompted by the Republican's proposed border tax policies.
The U.S. car manufacturer will continue to distribute its iconic Chevrolet and Cadillac brands in Europe and will be on the lookout for "future collaborations" in the region, Mary Barra told CNBC Monday.
Asked by CNBC if the deal was driven by the border tax, Barra responded: "This (deal) is really focused on the synergies that we found in Europe across the board and really the two companies fit together quite nicely."
Her comments come hours after the firm agreed to sell its European manufacturing arm Opel to rival PSA Group, maker of Peugeot and Citron. The announcement had prompted claims that GM has shied away from the region due to proposals by the new Trump administration to impose punitive tariffs on importers into the U.S.