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Jewhadi™ @JewhadiTM
, 5 tweets, 2 min read Read on Twitter
USMCA Consequences - BMW Chief Says Considering Additional Auto Plant Operations in U.S... theconservativetreehouse.com/2018/11/28/usm… via @thelastrefuge2
BMW made a multi-billion-dollar investment in Mexico in anticipation of exploiting the NAFTA loophole. President Trump has closed the loophole.
The new USMCA agreement requires 75% of automobile parts made in North America; and 45% must come from plants with minimum labor costs ($16/hr), or face tariffs upon export to the U.S.
As a result BMW is now considering opening those higher-wage component supply operations in the U.S.
(Reuters) – “BMW (BMWG.DE) is considering a second U.S. manufacturing plant that could produce engines and transmissions, Chief Executive Harald Krueger said on Tuesday, shortly after a report that U.S. President Donald Trump would impose tariffs on imported cars”
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