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Uber's Request For Tariff Relief Denied By US Trade Rep

Uber's Request For Tariff Relief Denied By US Trade Rep

The office of the U.S. Trade Representative denied a request by Uber Technologies (NYSE: UBER)  for relief from 25% tariffs on Chinese-made electric bikes, according to Reuters.

In May, it was reported by Reuters that the USTR rejected a separate request by Tesla Inc (NASDAQ: TSLA) to exempt its Autopilot “brain” from tariffs.

The U.S. tariffs are a systematic approach by the Trump administration to beat China’s efforts to develop high-technology industries that Washington alleges benefit from theft and forced transfer of U.S. intellectual property.

Uber shares were up 2.98% at the time of publication Thursday, while Tesla shares were up 1.43%. 

Related Links:

The Impact Of Trade Tariffs On Cross-Border Commerce

President Trump Cancels Mexico Tariffs, Makes Immigration Deal

Photo courtesy of Uber. 

Posted-In: Reuters tariffs trade warGovernment Regulations Media Best of Benzinga


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