BMW, Mercedes Dodge Trade Shock With €4 Billion Tariff Reprieve
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BMW AG, Mercedes-Benz Group AG and other European automakers are getting a €4 billion ($4.7 billion) earnings lift from the trade deal the European Union struck with the US, according to Bloomberg Intelligence.
European auto stocks rose on Monday over news that the rate on car imports from the EU would be lowered to 15% from 27.5%. BMW and Mercedes are also benefiting from tariff exemptions for about 185,000 cars they export annually from their American factories, BI analyst Michael Dean said in a note.
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