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    BMW Expects Business Policies Shift Under Trump, Stays Loyal to US Market

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    BMW car manufacturer in the United States expects changes in economic and business policies under President-elect Donald Trump, but remains committed to the US market, BMW of North America spokesman Kenn Sparks told Sputnik.

    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.

    Soon after the US election, president of Germany’s Ifo Institute for Economic Research Clemens Fuest warned that trade barriers that Trump is likely to introduce would "cause a huge damage." He noted that in Germany, 1.5 million jobs depend on US business, and the United States is Germany’s number one trade partner.

    "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.

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    business, BMW, Donald Trump, United States, Germany
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