Shares of General Motors and Ford jumped in premarket trading on a Bloomberg News report that China is moving toward cutting tariffs on autos made in the U.S.
Earlier this month, President Donald Trump tweeted shortly after his agreement to a 90-day truce with China at the G-20 that China had already agreed to lower these tariffs.
tweet
Read the full report here.
After the tweet from Trump, neither the White House nor China verified that this was agreed upon.
Shares of GM added 2.4 percent in premarket trading Tuesday. Ford rose 1.8 percent and Tesla rallied 1.6 percent.
This is a developing story. Check back for updates.
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