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China looks to lower tariffs on US cars as manufacturers enjoy a premarket boost

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  • Economy
  • 3 months ago
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Beijing has begun the process of lowering tariffs on U.S.-made cars as part of the ongoing agreement with Washington.

Tariffs are being lowered from 40% to the figure it stood at in May 2016 of 15%.

Regardless of the Chinese Cabinet still digesting the car import proposal, President Trump has optimistic views after having another round of “very productive” talks with Beijing.

As a result, automakers have rejoiced and been given a boost in the markets as BMW and Daimler both rose 2.1%, Ford and GM also up 2.6% in U.S. pre-market and Tesla too up 1.9%

 

 

Source: Smart Trend Team