, Columnist
China’s Carmakers Have a Strong Home Front in This War
Plunging domestic auto stocks obscure the greater damage faced in the U.S.
Try telling them to stop.
Photographer: Giulia Marchi/BloombergThis article is for subscribers only.
Donald Trump is trying to take on the single most globalized industry — and China. But the world’s largest car market won’t budge.
Beijing reduced duties on autos July 1, just before the imposition Friday of U.S. tariffs on $34 billion of Chinese goods. China’s carmakers, like its consumers, are the least vulnerable to external forces compared with counterparts elsewhere. The tariffs with which Trump is intimidating the auto industry will, on the other hand, wipe out a swath of bottom lines, burn a hole in every American car buyer’s pocket and trigger widespread job losses.