Daimler downgraded earnings forecast for 2018 due to the trade war between the US and China

German manufacturer of premium cars Daimler lowered its earnings forecast for 2018 before interest and taxes amid expectations that duties on deliveries of American cars to China will hit sales of Mercedes-Benz cars. The decrease in the forecast, which is also explained by the tightening of the norms for harmful emissions, provoked fears about the deterioration of forecasts by other companies in the sector. Analysts at Morgan Stanley believe that due to customs duties, the export of BMW off-road vehicles may suffer, while tightening requirements for car certification will hit all European automakers in the second half of 2018.

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