Xiaomi, Xpeng and Nio Report as Trump’s Win Promises to Bring Bruising Tariffs
- Xiaomi, Xpeng, Nio in Trump’s crosshairs, adding to EU tariffs
- Kuaishou, Baidu, Weibo weighed down by China’s economic slump
The European Union already imposed tariffs on Chinese automakers in late October.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Xiaomi Corp., Xpeng Inc. and Nio Inc. report earnings with all attention on what Donald Trump’s return to the White House will mean for the Chinese tech and electric vehicles firms.
The US president-elect has threatened 60% tariffs on Chinese goods that could decimate trade between the world’s largest economies, with Chinese President Xi Jinping saying China is ready to work with Trump to improve relations with the US. China’s lack of new stimulus to boost consumption also left investors expecting more measures when Trump takes office in January.