The EU-US trade agreement could increase profits for companies like BMW and Mercedes-Benz by 4 billion euros.
The news that the EU import tariffs on cars will be reduced from 27.5% to 15% boosted European car stocks on Monday. Analysts point out that this trade agreement will increase the profits of BMW, Mercedes-Benz, and other European car manufacturers by 4 billion euros. However, compared to the 2.5% tariff before Trump took trade actions, the German Automotive Industry Association said that the EU's trade agreement with the US will still be a heavy blow to the automotive industry.
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