FRANKFURT (dpa-AFX Broker) - A report about possible Chinese tariffs on cars hit the shares of German manufacturers on Wednesday. According to insiders, China could impose tariffs of up to 25 percent on imports of vehicles from the European Union and the USA. This was announced by the "China Chamber of Commerce to the EU" on the online service X. The USA recently drastically increased tariffs on electric cars from China, and tariffs on Chinese cars are also being discussed in the EU in the near future. Tensions between the trading partners have been increasing significantly for some time now.

Car stocks were far behind in early trading on the DAX on Wednesday. Mercedes-Benz lost 2.4 percent. From their price gains in the period from mid-January to the beginning of April, they have now corrected 62 percent, which is not a good signal on the charts. BMW, Porsche AG and Volkswagen were equally weak in the middle of the week, with share prices also falling by more than two percent in some cases. The European sector was in last place in the Stoxx 600 overview, down 1.9 percent./ajx/stk/tih