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Trump tweets China to cut tax on U.S.-made cars, revs up auto stocks


By David Lawder and Adam JourdanWASHINGTON/SHANGHAI (Reuters) - U.S. President Donald Trump said China had agreed to cut import tariffs on American-made cars, buoying shares in BMW and Daimler AG who manufacture in the United States for export to the world's biggest auto market.Shares of Chinese car dealers also perked up on hopes that such a move could revitalize the domestic auto market that is poised for its first annual sales contraction in decades amid cooling economic growth and a debilitating U.S.-China trade war. Trump, fresh from agreeing a 90-day cease-fire in his trade war with ...

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First Published: Mon, December 03 2018. 15:11 IST