VW CEO: 'You Have to Compete, But You Also Need to be Smart'

Ford (F) confirmed its trans-Atlantic alliance with Volkswagen Tuesday, Jan. 15, at the Detroit Auto Show that will focus first on commercial vehicles but could later extend to electric and self-driving cars as markets in the world's two biggest economies continue to slow.

Just prior to the announcement, Scott Keogh, CEO of VW of America talks with TheStreet about the automakers current position in the economy.

"There's all sorts of upheaval, no debate with trade deals and trade balances and all sorts of negotiations there and everything else. If you look specifically at the U.S, look the market has been plateauing since 2016. So we know well, you have to compete, but you also need to be smart."

London Bureau Chief Martin Baccardax has more on today's news. The latest here: Ford and VW Plan Alliance as Trade Wars, Emissions Rules Slow Global Car Markets.