Automotive stocks gain after Handelsblatt reports 🚗

Shares of car companies such as BMW (BMW.DE), Mercedes (MBG.DE) and Volkswagen (VOW1.DE) are gaining value after Handelsblatt reported that representatives of these companies are in talks with the US Department of Commerce about customs and possible solutions in this matter. According to sources cited by Handelsblatt, agreements between the parties could be concluded as early as early July and mainly concern the mechanism for compensating imports and exports.

Anonymous sources added that these corporations are considering investing billions in the US as part of a possible customs agreement.

Sources: xStation

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