German Auto Makers Under Pressure as China Mulls Import Tariffs -- Market Talk

Dow Jones10-08

1000 GMT - Shares in German auto makers fall after Chinese officials hinted at possible duties on imported vehicles. After announcing tariffs on brandy, China's Ministry of Commerce said Tuesday it is also continuing to study measures such as raising tariffs on imported large-engine vehicles. The comments come days after the EU said it will impose duties on Chinese electric vehicles imported into the bloc. BMW, Mercedes-Benz and Volkswagen all count China as a major market and executives had urged EU officials not to implement the duties. Germany voted against the move and Mercedes-Benz said after the vote that it considered the tariffs "a mistake." BMW shares trade 3% lower, Mercedes-Benz 2.2% lower and Volkswagen 1.5% lower. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

October 08, 2024 06:00 ET (10:00 GMT)

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BMW, Mercedes-Benz and Volkswagen all count China as a major market and executives had urged EU officials not to implement the duties. Germany voted against the move and Mercedes-Benz said after the vote that it considered the tariffs \"a mistake.\" BMW shares trade 3% lower, Mercedes-Benz 2.2% lower and Volkswagen 1.5% lower. 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