Let $H_1,H_2$ be local Hamiltonians (i.e. interactions are finite range). Let us form the product of the exponentials of both. By Baker-Campbell-Hausdorff, this defines a third Hamiltonian,
$$e^{H_1}e^{H_2}:=e^{H_3}$$
Can we say that $H_3$ is at least quasi-local (i.e. interactions exponentially decay with distance)?