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car tariffs

Automakers rise on report of China moving to cut U.S. car tariffs

NEW YORK: Automakers’ shares rose on Tuesday following a report that China could move to cut tariffs on American-made cars, a step which was forecast by U.S. President Donald Trump after a meeting with China’s president in Argentina. China is moving to cut import tariffs on American-made cars to 15 percent from the current 40 percent, Bloomberg reported on Tuesday citing people familiar with the matter. The step hasn’t been finalized and could still change, according to the report. Shares of U.S. automakers including…