Chinese President Xi Jinping Calls Trump As Coronavirus Worries Escalate

The President of China Xi Jinping assured President Trump in a phone call that China has been doing all it could to contain the coronavirus epidemic that has killed nearly 640 people.

What Happened

Why It Matters

Barron’s reports that Hubei is an important hub for the automobile industry, there are over 70 supplier plants in the province. Automakers that would be affected, among others, include Honda Motor Co Ltd (OTC:HNDAF) and General Motors Company (NYSE:GM).

The impact on automotive supply chains is already making an international impact with Hyundai Motor Co (OTC:HYMTF) shutting down its factories in South Korea temporarily, while US and EU carmakers are only weeks away from parts shortages.

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