BMW’S VAN BINSBERGEN WARNS AGAINST “BIG HAMMER” OF 50% TARIFFSBMW SA CEO Peter van Binsbergen says this country’s vehicle manufacturers don’t want tariffs to be used as what he called ‘a big hammer’ against cheap Chinese and Indian car imports. Van Binsbergen, speaking at BMW’s head office in Midrand, said simply slapping a maximum duty of 50% on imports could have unintended consequences for the entire sector. Business Day reports that the RAF’s own figures show legal costs of about R119 million incurred in defending these suspensions. Gold has gone to yet another record high - $5,540 – while platinum is just beneath a record - $2,738. London’s FTSE was down 0.5% - while on Wall Street, the Dow and the S&P 500 both ended flat – the Nasdaq up 0.2%.