Here's Why Tesla's Plant in China Is Critical. Daniel Miller, The Motley FoolMotley FoolJuly 11, 2018, 8:05 PM GMT. Unless you've been hiding in a cave, you've surely noticed trade tensions between the U.S. and China heating up. As recently as May, China planned to reduce import tariffs on many vehicles from 25% to 15%. Then tensions escalated, and in response to President Donald Trump's move to impose tariffs on $34 billion worth of Chinese goods, China slapped tariffs on U.S. products, including car imports, pushing that 15% tariff up to 40%. Tesla(NASDAQ: TSLA) has been in negotiations to build a factory in China for some time -- as a way to avoid such tariffs on the vehicles it sends to China -- and the automaker's recent agreement to build its second global assembly plant will put the power back into its hands.
1 other references
Latest Stories From Referenced Companies
Nov 18, 2018