Changes in Hong Kong stocks | Auto stocks continue to decline, Great Wall Motor (02333) falls more than 4% Xiaopeng Automobile-W (09868) falls more than 3%

The Zhitong Finance App learned that auto stocks continued to decline. As of press release, Great Wall Motor (02333) fell 4.07% to HK$14.62; Xiaopeng Motor-W (09868) fell 3.35% to HK$46.15; and Ideal Automobile-W (02015) fell 0.94% to HK$104.9.

According to reports, on Sunday (13th) local time, US Republican presidential candidate Trump explained his trade policy in detail on the “Looking to the Future on Sunday Morning” program. The report said that the former president proposed a new “United States-Mexico-Canada Agreement” (USMCA) as part of his larger move to boost domestic employment and revitalize the automobile industry. Trump claims that the US has been “deceived by Mexico, China, Canada, and the European Union” in the past. He doesn't care if a new agreement can be reached, but the US must get rid of the North American Free Trade Agreement (NAFTA).

Earlier, Trump said he would introduce new tariffs to prevent Chinese automakers from producing cars in Mexico and exporting them to the US. Trump has said that tariffs of up to 200% will be imposed, and this time he has hinted that higher tariffs may be imposed.