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MarketWatch MarketPulseJun 21, 2018
Shares in German auto makers fall after Daimler warning, tariffs proposal
Shares in German auto makers fell Thursday as traders assessed a profit warning from Daimler AG as well as the companies' support of a tariffs proposal. Daimler issued a surprise profit warning late Wednesday, saying Chinese retaliatory import duties on vehicles built in the U.S. would hit sales and profits of the SUVs it builds at its Alabama factory. Meanwhile, Daimler, BMW AG and Volkswagen AG have thrown their support behind the abolition of all import tariffs for cars between the European Union and the U.S. in an effort to find a peaceful solution to the brewing trade war. Shares in Daimler were down 2.9%, BMW fell 2.2%, and VW dropped 1.3%.

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Workers assemble an S-Class sedan at the Mercedes-Benz plant in Sindelfingen, Germany. Daimler, which owns the Mercedes-Benz brand, says Chinese tariffs will hurt sales of vehicles made in its Alabama factory. Photo: Thomas Niedermueller/Getty ...
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