China to halt added tariffs on U.S.-made cars in easing of trade tensions

BEIJING/WASHINGTON (Reuters) – China will temporarily suspend additional 25 percent tariffs on U.S.-made vehicles and auto parts starting Jan. 1, 2019, the finance ministry said on Friday, following a truce in a trade war between the world’s two largest economies. The Ministry of Finance, in a statement on its website, also said it hopes China and the United States can […]

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Trump threatens to cut GM subsidies in retaliation for U.S. job cuts

WASHINGTON (Reuters) – U.S. President Donald Trump threatened on Tuesday to cut subsidies for General Motors Co (GM.N) after the largest U.S. automaker said it would halt production at five plants in North America and cut nearly 15,000 jobs. “The U.S. saved General Motors, and this is the THANKS we get! We are now looking at cutting all @GM subsidies, […]

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Trump may impose tariffs on imported cars from next week

A German magazine reported that U.S. President Donald Trump could impose tariffs on imported cars next week. The White House has repeatedly pledged not to move forward with imposing tariffs on the European Union or Japan. European auto stocks extended losses on Tuesday after a German magazine reported that U.S. President Donald Trump could impose tariffs on imported cars from […]

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Nissan board sacks CEO Carlos Ghosn after ‘serious misconduct’ claims

The board of Nissan has voted to sack its chairman, Carlos Ghosn, according to public broadcaster NHK, days after his arrest for alleged financial misconduct sent shockwaves through the Japanese business world. NHK said the seven-member board had voted unanimously to dismiss Ghosn, who is credited with saving the carmaker from bankruptcy when he took over almost two decades ago […]

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China auto sales fall in October, deepening slump

China's auto sales sank for a fourth month in October as an unexpectedly painful slump in the global industry's biggest market deepened. Continue Reading Below Purchases of SUVs, sedans and minivans contracted 13 percent from a year earlier to just over 2 million units, the China Association of Auto Manufacturers reported Friday. Auto demand had been forecast to weaken after […]

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FCA sells auto parts unit to Japanese firm; $7 billion deal

Fiat Chrysler Automobiles has announced the sale of its auto components division to Japanese automotive component supplier Calsoni Kansei Corporation in a deal valued at 6.2 billion euros ($7 billion). FCA said Monday that the Magneti Marelli sale would create the world's seventh-largest components maker with greater geographical reach, scale and financial strength, encompassing 200 facilities in Europe, Japan, the […]

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NAFTA replacement deal lifts Wall Street

NEW YORK (Reuters) – Wall Street kicked off the fourth quarter on a positive note on Monday, as a last-minute deal to salvage NAFTA as a trilateral pact helped ease trade concerns. Canada and Mexico accepted more restrictive commerce in the new United States-Mexico-Canada Agreement (USMCA), which will make it harder for global automakers to build cars cheaply in Mexico […]

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Paris Auto show highlights electric SUVs yet diesel lives on

Mercedes takes on Tesla with first fully electric car FBN’s Lauren Simonetti on Mercedes unveiling its first fully electric car. PARIS (AP) — Diesel is in the doghouse. There's a global fight over trade. Brexit is looming. Tighter vehicle emissions rules are on the way. Continue Reading Below Those are among the challenges facing auto executives as they gather this […]

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Japan dodges US auto tariffs, for now, as Trump and Abe agree on trade talks

(AP Photo/Lynne Sladky) President Donald and Japanese Prime Minister Shinzo Abe agreed on Wednesday to start trade talks in an arrangement that, for now, protects Japanese automakers from further tariffs. Continue Reading Below The two countries said in a joint statement the talks "will respect positions of the other government," drawing lines on autos and Japan's agriculture sector, according to Reuters. Japan […]

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