President Trump officially sets a six-month deadline to negotiate national security issues with respect to imported automobiles and certain automobile parts from the European Union, Japan and any other country the U.S. Trade Representative deems appropriate.
The expected delay means potential tariffs for the auto sector are pushed down the road. Automakers and some U.S. lawmakers oppose the potential tariffs on concerns they will lead to a loss of business activity and jobs.
Global auto stocks: Daimler (OTCPK:DDAIF), Volkswagen (OTCPK:VWAGY), Audi (OTCPK:AUDVF), Toyota (NYSE:TM), BMW (OTCPK:BMWYY), Honda (NYSE:HMC), Nissan (OTCPK:NSANY), General Motors (NYSE:GM), Ford (NYSE:F), Fiat Chrysler Automobile (NYSE:FCAU), Ferrari (NYSE:RACE), Tata Motors (NYSE:TTM), Hyundai (OTCPK:HYMLF), Tesla (NASDAQ:TSLA).
Auto supplier/parts stocks: Dana (NYSE:DAN), BorgWarner (NYSE:BWA), Meritor (NYSE:MTOR), Delphi Technologies (NYSE:DLPH), Gentex (NASDAQ:GNTX), Standard Motor Products (NYSE:SMP), Goodyear Tire & Rubber (NASDAQ:GT), American Axle & Manufacturing (NYSE:AXL), Autoliv (NYSE:ALV), Modine Manufacturing (NYSE:MOD), Westport Fuel Systems (NASDAQ:WPRT), Aptiv (NYSE:APTV), Adient (NYSE:ADNT).
Related ETF: CARZ.
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