MOSCOW (Sputnik) — After Trump won the US presidential election, analysts raised concerns over the prospects for German businesses in the country, as during his campaign the president-elect promised to repeal the Trans-Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (TTIP) trade deals and adopt protectionist economic policies.
"A new president and administration of course will mean change, but now is not the time for speculation about any possible impact on business. The BMW Group is at home in the United States and has a long-standing commitment to the American market," Sparks told Sputnik.
"Our largest production plant is here in the United States, in Spartanburg, South Carolina, and more than 70,000 people across the United States depend on BMW Group for their jobs and livelihood. We appreciate the loyalty and trust of our employees, our customers, and our business partners," Sparks added.
BMW of North America was established in 1975 as the US importer of BMW luxury vehicles. It is one of the top-ranking German firms working in the United States.
Trade protection, which seeks to curb imports or promote exports by imposing barriers to trade, is strongly supported by US President-elect Donald Trump, who pledged to opt out of all free trade agreements under discussion and impose tariffs on imports from China and Mexico.
