No deal for automakers after Trump-Jinping meeting
Dec 6, 2018
The escalating tensions between both economic superpowers have been brewing up for some time now, and the anticipated meeting between President Trump and Chinese President Xi Jinping was the possible breakthrough for the majority of automakers around the world. There were claims of an agreement that was too good to be true, both parties did not reach an agreement concerning trade measures, as the White House was not convinced of what China offered. The Chinese government raised tariffs from 25 percent to 40 percent on American-made cars. Companies such as Volvo are now considering re-locating some of its manufacturing plants to China.