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America’s Largest Auto Exporter To Move Some Production Out Of US, Blames Tariffs

Courtesy of ZeroHedge. View original post here.

And cue the Trump tweet in 3…2…1…

According to The Post and Courier in South Carolina, 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.

BMW is the largest U.S. auto exporter, and employs 10,000 people at a plant in Spartanburg, S.C. The brand’s key SUV models are produced there.

As The Hill reports, the Germany-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.

One thing is certain, it did not take BMW long to make this change (signing a deal with China and abandoning South Carolina) – some might say they were "gone in 60 seconds," and acted "fast and furious."


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