Bayerische Motoren Werke AG will raise the price of some mid-sized sport utility vehicles in China by as much as 7 percent beginning Monday, in a further rippling of the U.S.-China trade war through the global supply of products.
The German carmaker, which builds the vehicles in Spartanburg, South Carolina, said Sunday it would increase its suggested retail prices for X5 and X6 models in China between 4 percent and 7 percent. In 2017, BMW exported more than 81,000 U.S.-made SUVs valued at $2.37 billion to China, the biggest market for its American exports.
U.S. President Donald Trump has imposed duties on billions of dollars in Chinese imports and has threatened more, prompting retaliatory measures from Beijing. The effects are rippling through various industries, including soybean farms, industrial chemical manufacturers and even lobster trap-makers in the Northeast.
BMW exported about 272,000 vehicles from the U.S. last year, compared with 202,000 models it imported. The BMW price increase was reported earlier by Reuters.
