BMW to shift some SUV production overseas in response to tariffs

[DonViejo]

Source: The Hill



BY JACQUELINE THOMSEN - 07/10/18 08:25 AM EDT

BMW said Monday that it would move production for some of its SUVs out of the U.S. as a result of new tariffs placed on the vehicles, according to The Post and Courier in South Carolina.

The German-based automobile manufacturer signed an agreement with its Chinese partner, Brilliance Automotive Group Holdings, to increase the number of vehicles produced in the country, according to the Charleston newspaper, with the total reaching 520,000 by 2019.

“Our agreement sets a long-term framework for our future in China — a future involving continued investment, further growth and a clear commitment to the development and production of electric vehicles,” said BMW CEO Harald Krueger said.

The company also said that it will raise prices for U.S.-produced SUVs sold in China because it is "not in a position to completely absorb the tariff increases” after China slapped a 40 percent tariffs on U.S. car imports, according to the newspaper. The action was in response to tariffs on Chinese goods imposed by President Trump.





Read more: http://thehill.com/policy/finance/international-taxes/396248-bmw-to-shift-some-suv-production-overseas-in-response-to

[Achilleaze]

1. Thanks a yellow piddle puddle, republicans

you have weakened America further yet again.

[Submariner]

2. BMW South Carolina should survey who employees voted for in 2016

and lay off the crackers who voted for Trump until the tariff is ended and production is brought back to the U.S.

[dalton99a]

3. +1

[still_one]

4. Tesla indicated this morning it will be building a huge plant in China with hopes it will produce

500000 cars., while that may not have anything to do with tariffs, it does indicate the unilateralism approach to trade, and using the tactic of imposing tariffs as a “bargaining” tactic is foolhardy at best.

Because of the arrogance, and the ignorance of this administration, the US will lose business and market share because of these “tactics”

[duforsure]

5. Many more will soon follow

rather than be subjected to dictator trump demands , and extortion.

[heaven05]

6. more jobs lost

and our economy will tank...these articles about our jobs increase in this country and economy are just lies put there to try to keep trump normalized as an amerikkkan potus who will kill us all, even his base. Just remember Dresden, WW2. Hitler did that to his own people. He, while in his bunker toward the end of WW@, said something like this as he was putting children and senior citizens on the front line, "those who want to live, let them fight(for nazism then and now 21st century trumpism), those who do not want to fight in this world of eternal struggle deserve to die", Extrapolate to our orange and deranged leader, voila!

[Grins]

7. Elections have consequences...

BMW's Greer, SC plant has 9,000+ workers, and is one of the state's biggest companies.

2017: BMW said it will "continue to grow just as it has, almost without pause, for the past two decades."

2018: "BMW said it would move production for some of its SUVs out of the U.S. as a result of (Trump's) new tariffs."

Nikki Haley must be so proud.

Elections have consequences. South Carolina voted for Trump by 55%. Good luck finding those new employers with the good paying jobs and benefits, South Carolina!!

So. Much. Winning!!!!

[Hav]

8. And it makes so much sense,

that everyone with just a little bit of intelligence should understand it. As a manufacturer and seller, you are hit twice by these tariffs. First, you need to invest more because of the tariffs on the resources to create your product in the US. Then if you want to sell it abroad, you are hit with the retaliatory tariffs on your product. The easy solution then is to just build your product abroad and you just got rid of both tariffs.
China is the winner because Trump hurts businesses that produce in the US and sell abroad, exactly the kind of busineses to reduce the trade deficit he always talks about.