The news rattled Mainland China’s markets and the Hong Kong stock market. China is a major exporter of electric vehicles (EV) and plug-in hybrid electric vehicles (PHEV). Meanwhile, US automakers, including Ford (F) and General Motors (GM), also manufacture cars in China for the US market, raising concerns about broader industry disruptions.
Although details of the looming tariffs remain unclear, they could significantly impact China’s manufacturing sector.
China’s Caixin Manufacturing PMI fell to 50.1 in January, down from 50.5 in December, as Trump imposed 10% import duties on Chinese goods. The January survey revealed that employment fell at the most marked rate since Q1 2020 amid demand concerns.
An escalation in the US-China trade war and lack of progress toward a trade deal…
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