Donald Trump Does a Favor for BMW and Mercedes
On Tuesday, China confirmed a Bloomberg News report that it plans to lower tariffs on imported passengers cars to 15 percent, from 25 percent. There was a time when this would have been huge news for foreign carmakers. BMW AG, Toyota Motor Corp., Daimler AG and Volkswagen AG import by far the most cars to China but none exceeds 250,000 annual units, according to a recent Bloomberg Intelligence analysis.