Tesla's China-made electric vehicle sales fell 9.9% to 61,497 units in October from a year earlier, reversing a 2.8% increase in September, data from the China Passenger Car Association showed on Tuesday.
China announced an initiative on Tuesday to increase imports, promoting itself as a super-sized market opportunity even as its trade surpluses with other countries swell amid frictions with the United States.
About half of Americans view the large U.S. trade deficit with other countries as an economic emergency, according to a poll released on Tuesday, a day before the Supreme Cour, opens new tab is due to consider the legality of sweeping tariffs imposed by President Donald Trump under a law meant for emergencies.
Sales of U.S. light vehicles fell in October as the expiration of federal government subsidies undercut demand for battery-powered electric cars, and an easing labor market and looming higher prices from tariffs could limit any rebound this year.
Oil prices fell on Wednesday amid a broader selloff in global financial markets that underscored concerns about economic and fuel demand growth, with a stronger U.S. dollar and reports of rising U.S. crude stockpiles adding to the worries.
Indonesia’s economy likely grew at a steady annual pace of 5.00% in the third quarter, supported by household spending and investment, while exports got a temporary boost from firms shipping goods ahead of U.S. tariffs, a Reuters poll showed.