U.S.-China trade feud dents American automakers

These world tariffs being implemented by D. Trump are causing mayhem in the business world. Is it just short term correction for long term success of America?? I back him in his approach. We should be doing more at home than abroad...

Trade war with the U.S. is contributing to falling auto sales in China, the world's biggest auto market. In September, Ford's auto sales in China plummeted by 43 percent, and General Motors' fell 15 percent. And those drops are weighing on the carmakers' share prices.

Both companies, which make and sell cars in China in joint ventures with Chinese companies, were caught in an overall 11.6 percent decline in Chinese auto sales -- the biggest drop in nearly seven years. Combined with slumping auto sales in the U.S., the China slowdown could help lead to further declines in the U.S. auto stocks.

Ford and GM stocks are both down about 27 percent since June in part over concern about the effects of the U.S. tariffs already imposed on autos from China, as well as the threat of new ones. China has retaliated with its own 25 percent tariffs on vehicles imported from the U.S. But that levy chiefly affects BMW SUVs made in South Carolina and exported to China.

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https://www.cbsnews.com/news/u-s-china-trade-feud-dents-american-automakers/