China looks to lower tariffs on US cars as manufacturers enjoy a premarket boost
- 6 months ago
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