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With just a few days to his inauguration as the 45th president of the U.S., President-elect, Donald Trump, has threatened to slam a 35 percent border tax on cars German auto giant, BMW, plans to build at a new plant in Mexico and export to the U.S. market.
Reuters said Trump was speaking in an interview with German newspaper Bild, which on Sunday released excerpts of his comments translated into German.
According to Reuters, a BMW spokeswoman, who maintained that the company was “very much at home in the U.S.,” employing directly and indirectly nearly 70,000 people in the country, disclosed that a BMW Group plant in San Luis Potosi would build the BMW 3 Series starting from 2019, with the output intended for the world market. It added that the plant in Mexico would be an addition to existing BMW 3 Series production facilities in Germany and China.
Trump was quoted as saying that BMW should build its new car factory in the United States because this would be “much better” for the company.
He was said to have added that Germany was a great car producer, borne out by Mercedes Benz cars being a frequent sight in New York, but there was no reciprocity.
Germans were not buying Chevrolets at the same rate, Trump was quoted as saying , making the business relationship an unfair one-way street,adding that he was an advocate of free trade, but not at any cost.
Source: Reuters
