European Carmakers Surge on Tariff Hopes After US-Japan Deal
Newly manufactured vehicles at a commercial port in Vigo, Spain.
Photographer: Brais Lorenzo/BloombergEuropean automakers’ stocks rallied after the US-Japan trade deal sparked hopes that American import tariffs on their vehicles could be cut.
Volvo Car AB’s shares closed 13% higher in Stockholm, the biggest one-day jump since February 2024, while BMW AG, Mercedes-Benz Group AG, and Volkswagen AG also advanced after the US set automotive tariffs on Japanese imports at 15% — down from the 27.5% rate imposed by President Donald Trump since April.