© 2019 Bloomberg Finance LPEuropean auto stock prices rallied briefly, then resumed their recent slide, after reports President Trump had delayed a decision on possible auto and auto parts tariffs for up to 6 months. The European STOXX 600 automobile and parts index jumped 2.5% before resuming the downtrend, in place since the high of 550 set April 18 and undermined by poor first quarter results from the big auto manufacturers and waning long-term prospects for the global industry. The index had fallen to 509.81 on May 13, jumped after news of the tariff reprieve, then resumed the downtrend. The German manufacturers are in the firing line of any tariff war between the U.S. and Europe. U.S. tariffs on auto imports from Europe are 2.5%, while Europe charges U.S. manufacturers four times as much.

Source: Forbes May 16, 2019 09:33 UTC