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China cutting U.S. auto tariffs is big news — for German auto makers 
Two-thirds of U.S. auto exports to China are from the German luxury car producers
The news that China is slashing the tariffs on U.S.-made cars is a big boost — to the bottom line of German companies.
As part of the effort to reduce trade tensions, China has agreed to cut tariffs on U.S. autos to 15% from 40%, The Wall Street Journal reported. That brings the tariff rate back down to levels they were before getting raised as part of the trade war between the two nations.
But that won’t mean much for the major U.S.-based auto makers, General Motors GM, +3.69% , Ford Motor Co. F, +1.76% and the Chrysler unit of Fiat Chrysler Automotive FCAU, +3.56% .
According to data from LMC Automotive, Germany’s BMW BMW, +2.83% and Daimler DAI, +2.00% exported two-thirds of the 267,000 vehicles shipped to China from the U.S.
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https://www.marketwatch.com/story/china-...2018-12-12
Two-thirds of U.S. auto exports to China are from the German luxury car producers
The news that China is slashing the tariffs on U.S.-made cars is a big boost — to the bottom line of German companies.
As part of the effort to reduce trade tensions, China has agreed to cut tariffs on U.S. autos to 15% from 40%, The Wall Street Journal reported. That brings the tariff rate back down to levels they were before getting raised as part of the trade war between the two nations.
But that won’t mean much for the major U.S.-based auto makers, General Motors GM, +3.69% , Ford Motor Co. F, +1.76% and the Chrysler unit of Fiat Chrysler Automotive FCAU, +3.56% .
According to data from LMC Automotive, Germany’s BMW BMW, +2.83% and Daimler DAI, +2.00% exported two-thirds of the 267,000 vehicles shipped to China from the U.S.
...
https://www.marketwatch.com/story/china-...2018-12-12
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