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Bloomberg
Daimler AG dropped plans to expand its business in Iran after the US renewed a host of sanctions and President Donald Trump threatened to penalise companies doing business in the country.
The German carmaker has suspended its “limited†activities in Iran until further notice because of the trade curbs coming into effect on Tuesday, the Mercedes-Benz maker and biggest commercial vehicles manufacturer said in an emailed statement. In 2016, Daimler moved fast to re-establish ties with Iran, signing preliminary agreements with Iran Khodro Co., to sell and produce trucks. Last month France’s Renault joined PSA Group, which makes Peugeot and Citroen cars, in pulling away.