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China tariffs on U.S.-made models to force price hikes for BMW

Business Materials 6 July 2018 17:46 (UTC +04:00)
German automaker BMW said on Friday that it will be unable to “completely absorb” a new Chinese 25 percent tariff on imported U.S.-made models
China tariffs on U.S.-made models to force price hikes for BMW

German automaker BMW said on Friday that it will be unable to “completely absorb” a new Chinese 25 percent tariff on imported U.S.-made models and will have to raise prices on the vehicles it makes in Spartanburg, South Carolina, Reuters reports.

BMW said in a statement it is “currently calculating related necessary pricing increases” for U.S.-made models imported into China and will announce them “at a later stage.”

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