President Donald Trump threatened to implement new tariffs on Chinese goods, which will likely add to the woes of the US auto industry.
. Chinese companies are also important suppliers to the US manufacturers.
"We believe the threat of incremental trade friction could have material and negative ramifications for the auto industry," wrote John Murphy in a Bank of America Merrill Lynch research note."This, combined with a fading US cycle and other emerging headwinds, could pressure multiples and limit upside to auto stocks."
Murphy noted that tariffs on auto parts and other raw materials were initially set to become effective in January, but they were delayed indefinitely as trade talks progressed. The industry will be impacted by the outcome of , including those with Japan, Korea, the European Union as well as the uncertain situation with Brexit.
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