By Andrea Figueras
Shares in European carmakers gained in early trading after a U.S. tariff agreement with Japan sparked optimism for the auto industry.
President Trump wrote in a social-media post on Tuesday that he would set reciprocal tariffs at 15% for Japan. Levies on autos would also be lowered to 15% from their current 25%, Tokyo's chief trade negotiator said, a development that lifted Asian auto stocks.
Automotive levies in particular had been a sticking point for months in negotiations between Washington and Tokyo.
European carmakers are subject to the 25% levy imposed by Trump on foreign-made cars. Germany, Europe's biggest economy and its largest exporter, is particularly exposed to duties.
Shares in Mercedes-Benz and Volkswagen jumped more than 5% in European morning trading, while those in premium sports-car maker Porsche were up 6.9%. BMW and Renault traded 4.6% and 2.9% higher, respectively. Jeep maker Stellantis was up 5.9%, while Volvo rose nearly 11%. Shares in Ferrari rose 1.4%.
The news offers a glimmer of hope for Europe's beleaguered automotive industry, which in addition to the threat from tariffs, is also facing falling demand, a struggling electric vehicle market, and fierce competition from its Chinese rivals.
Write to Andrea Figueras at andrea.figueras@wsj.com
(END) Dow Jones Newswires
July 23, 2025 03:53 ET (07:53 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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