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Stock markets jump on report of delayed US auto tariffs


In the US, sharp drops in the April manufacturing and retail sales indices initially sent shares lower before the hope of a delay in auto tariffs turned things around.

Washington: Stock markets gained ground Wednesday on news that US President Donald Trump planned to delay auto tariffs. Industry sources told AFP Trump was planning to delay imposing tariffs on EU auto imports while the US pursues agreements with key trading partners. European and US markets that had been in negative territory earlier in the day suddenly jumped higher, with German auto manufacturers among those who stood to benefit.

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