BMW may source more US steel its auto plant after tariff move
[FRANKFURT] BMW said on Friday it may increase the amount of steel it sources locally for its US plant after Washington imposed tariffs on imports of steel and aluminium from the European Union.
The German carmaker's plant at Spartanburg, South Carolina, is its largest in the world, and sources more than 70 per cent of its steel locally.
"We have a target to increase the US percentage, which is dependent on the availability of appropriate specification and quality," BMW said in a statement.
Washington imposed tariffs on steel and aluminum imports from the European Union, reviving investor fears of a global trade war.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Chinese EV makers defy industry slump as price cuts boost sales
Qatar Airways closes in on major Boeing, Airbus widebody order
Cathay Pacific looking to add more Belt and Road destinations, CEO says
Baltic Exchange Shipping Insights
Jet supply chain headaches may still be here in 2026: Iata
Ships diverted from Red Sea send ripple effects across the globe