Final hours! Save up to 55% OFF InvestingProCLAIM SALE

Automakers gain as China moves to lower import tariff

Published 12/11/2018, 08:40 AM
© Reuters.  Automakers gain as China moves to lower import tariff
GM
-
F
-
MBGn
-
TSLA
-
CARZ
-
BMWKY
-
  • China is taking initial steps to lowers its tariffs on U.S.-made cars back down from 40% to 15%, sources tell Bloomberg. The 15% mark is back to where it stood last May.
  • President Trump has hinted once again on "very productive" conversations with China, although Bloomberg reports that the China Cabinet is still reviewing the auto import proposal.
  • Automakers are getting a bump off the development. BMW (OTCPK:BMWYY) and Daimler (OTCPK:DDAIF) are both up 2.1% in Frankfurt, while Ford (NYSE:F) and General Motors (NYSE:GM) are both 2.6% higher in U.S. premarket trading and Tesla (NASDAQ:TSLA) is 1.9% higher.
  • Related ETF: CARZ.
  • Now read: Tesla: The 60 Minutes Scare


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.