Business Standard

How Trump's trade war with China is hurting BMW, Daimler and Tesla

Tesla increased sticker prices for its Model S and Model X earlier this month


BMW AG and Daimler AG are facing more pain in China after higher tariffs on US-imported cars force price hikes and consumers hold back on their next purchase.

BMW, which like Daimler AG ships US-made sport utility vehicles to China, said on Sunday it will join Tesla Inc. in raising prices in the Asian country. The steeper charges are a result of China’s decision to boost tariffs to 40 percent on July 6, part of a tit-for-tat trade war with the US  China almost simultaneously cut import duties for cars from everywhere else, creating whiplash for manufacturers as well as

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First Published: Jul 31 2018 | 1:49 AM IST

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