Tariffs on U.S.-made models will mean pricier BMWs in China


Bob lila w w j news time seven thirty four today the us hit the country with thirty four billion dollars worth of tariffs china has already retaliated and is accusing the us of starting quote the largest trade war in economic history cbs news washington correspondent paula reid is traveling with president trump administration says they want open free markets they want to support free trade tariffs are literal barriers to new markets not only for our our companies over here but to international companies as well the products affected by the tariffs include cars soybeans and dairy ken nobis a dairy farmer from saint john's and the president of the michigan milk producers association he's pretty concerned percent tariff for example that you're talking about it makes us uncompetitive in the marketplace we currently exports fifteen percent of dairy products producing this concrete that export market is very important to us to grow our industry and also just for tradition income noticed says consumers in this country might see prices drop as the supply increases now one european automaker is already raising prices because of the trade war as we hear from auto beat reporter jeff gilbert bmw says china's response to the us tariffs will force it to raise prices on south carolina made suv's sent to china no specifics on that price hike but bmw annually sends about one hundred thousand vehicles from the us to china is storage china's charge tariffs on imported vehicles which is why generally only luxury cars are imported to china right now lincoln and mercedes say they're not planning to raise their prices and china jeff gilbert wwf j newsradio nine hundred fifty twitter is again pershing fake accounts and accounts run by botts many of these accounts that are being taken off line are actually fake accounts or bought that automatically tweet in some cases thousands of times a day motivations can be economic but they can also be political including four and attempt to try to influence american.

Coming up next