BMW has warned against possible cuts in investment and job losses in the US, should the American government Import duties on foreign cars rise. Customs would neither strengthen US growth nor competitiveness, the corporation wrote in a letter to Secretary of Commerce Wilbur Ross.
Any US tariffs are expected to be additional Retaliatory measures by the European Union and China lead. In addition, higher tariffs on components imported into the US would make the production sites outside the US more competitive. BMW has a plant in South Carolina that is the largest in the world, exporting more than 70 percent of its products to other markets.
GM also warns the US government
US automakers General Motors has also warned about the consequences of import duties. They could ultimately lead to a “smaller GM”, the company told the Ministry of Commerce on Friday.
The US wants to close in July, whether they should levy higher taxes on the import of cars from Europe. The investigation will be completed in three to four weeks, US President Donald Trump had announced on Friday.
Trump threatens to impose a 20 percent import duty on European cars if the EU does not reduce trade barriers. About a month ago, the US government had launched an investigation into whether car imports pose a threat to national security. In that case, the US could impose punitive measures.