So it seems that there were at least some positive developments at the G20 summit over the weekend with a truce being called on the escalating US-China trade war being followed by some major concessions by the Chinese.
Firstly, they said that they would buy a large amount of agricultural, energy, industrial and other product from the US and rescind a number of tariffs.
It turns out that China agreed to reduce and remove tariffs on American cars going to China from the US, which is a major development considering the current tariff is a whopping 40%.
If it sticks, I think this will be particularly beneficial to Tesla given its sales in China have been hammered to the extent that it has basically been forced to take the tariff pain themselves by offering big discounts on some of its vehicles.
