European autos stocks hit on China tariff jitters
European autos stocks were the worst performing equity market sector on Wednesday, following a report that suggested there was potential for China to impose higher tariffs on cars.
were the worst performing on Wednesday, following a report that suggested there was potential for China to impose higher tariffs on cars.A government-affiliated auto research body expert told China's Global Times newspaper that China should raise its on large to 25%, as the country faces sharply higher U.S. auto import duties and possibly additional duties to enter the European Union.
An of was last down 1.8% - making it the worst-performing sector - having pulled back from a 2.4% drop earlier in the session. The broader which was last down 0.3%.
BMW and were last down 2.2% and 1.5%, respectively. Stellantis was down 0.9% having fallen as much as 1.9% earlier in the session.
French car parts maker was last down 2.5%. (Reporting by Lucy Raitano; Editing by Amanda Cooper and Louise Heavens)
Source: Stocks-Markets-Economic Times
