Source: https://finance.yahoo.com/news/trump-says-china-agreed-cut-043641324.html
TSLA went up ~$10 from Friday's close $350.48, to Monday's opening, $360.00. But this isn't real until we see confirmation from China or Tesla. Trump tweets so much BS, I can't believe anything he says or tweets.
Bob Wilson
U.S. President Donald Trump said China had agreed to cut import tariffs on American-made cars . . . said on Twitter "China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%".
. . .
Beijing raised tariffs on U.S. auto imports to 40 percent in July, forcing many carmakers to hike prices in a major hit to the roughly $10 billion worth of passenger vehicles the United States sent to China last year.
That put U.S.-made car brands like Tesla Inc (TSLA.O) and Ford Motor Co's (F.N) Lincoln at a major disadvantage as the move came soon after China slashed auto import tariffs for the wider market to 15 percent from 25 percent.
. . .
Beijing raised tariffs on U.S. auto imports to 40 percent in July, forcing many carmakers to hike prices in a major hit to the roughly $10 billion worth of passenger vehicles the United States sent to China last year.
That put U.S.-made car brands like Tesla Inc (TSLA.O) and Ford Motor Co's (F.N) Lincoln at a major disadvantage as the move came soon after China slashed auto import tariffs for the wider market to 15 percent from 25 percent.
TSLA went up ~$10 from Friday's close $350.48, to Monday's opening, $360.00. But this isn't real until we see confirmation from China or Tesla. Trump tweets so much BS, I can't believe anything he says or tweets.
Bob Wilson
