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Automakers are rallying after China says it will reduce tariffs on US cars

6 monthes ago   |   By

China said Tuesday it will lower the tax on imported vehicles to 15% from 25%.
Automaker stocks were up as much as 2.6% on the news.
American automakers are rallying after China said it would cut tariffs on most imported vehicles from 25% to 15% starting July 1.
Fiat Chrysler : +2.6%
General Motors : +1.1%
Ford : +0.8%
Tesla : +0.9%
China's Finance Ministry said Tuesday the average tax will be 13.8% going forward. The move was originally announced last month in order to open the world's largest auto market to foreign companies. It will also remove long-standing caps on foreign ownership of...
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China slashes tariffs on imported cars

China slashes tariffs on imported cars

6 monthes ago   |   By


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