FOR IMMEDIATE RELEASE
October 8, 2018
ICYMI: Trump’s Tariffs Have Already Cost Ford $1B; Now it’s Planning Layoffs
BMW, Volvo Threatened By Tariffs; Will McMaster Do Something?
Columbia, S.C. – More reporting today on how President Trump’s tariffs are hurting auto-makers, workers, and consumers across the county. South Carolina’s economy depends on international trade – and these arbitrary tariffs are a threat to our success. Governor Henry McMaster thinks we should “wait and see.” He is more interested in defending the President’s dangerous tariffs than South Carolina businesses and workers.
Automakers say the industry’s $27 billion annual economic impact in South Carolina could be threatened by the tariffs. In June, Volvo’s CEO said auto tariffs could hurt its hiring half of the 4,000 workers in the state. In June, BMW sent a letter to the United States Commerce Department about how Trump tariffs could “could drive up manufacturing costs and risk jobs in South Carolina.” The company also announced that it would increase production capacity in two Shenyang plants next year – overtaking the total production in Spartanburg, South Carolina.
The South Carolina Chamber of Commerce, local leaders, and workers have called on South Carolina’s representatives to do something. Predictably, Henry McMaster has done nothing.