Economics
Automaker Shares Soar on U.S. Proposal to Eliminate Tariffs
- U.S. ambassador to Germany said to float removal of levies
- Shares in car producers including VW, BMW and Fiat rise
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Shares in European carmakers are having their best trading day in two years after a U.S. official floated a proposal to eliminate vehicle-import tariffs on both sides of the Atlantic.
German auto-industry executives met with U.S. Ambassador to Germany Richard Grenell Wednesday, where he was said to have told participants Washington was seeking talks with the European Union and Berlin on lowering car duties to zero, according to two people briefed about the meeting. The news was first reported by Handelsblatt newspaper.