US Listed Chinese Tech And EV Stocks Slide As Trump Confirms China Trade Deal

U.S.-listed Chinese stocks Alibaba Group Holding (NYSE:BABA), Baidu, Inc. (NASDAQ: BIDU), JD.Com, Inc. (NASDAQ: JD), and PDD Holdings Inc. (NASDAQ: PDD) are trading lower on Thursday as President Donald Trump confirmed a China trade deal after two days of negotiations in London.

It is worth noting that the tariffs are in place despite fresh inflation data coming in softer than expected for May.

The U.S. will continue applying 55% tariffs on selected Chinese imports, while China will impose a 10% tariff rate on U.S. goods.

Also Read: China Stocks Get Boost As UBS, HSBC Cite Stimulus Hopes, Tariff Truce, Low Valuations

Chinese EV stocks, including Nio Inc (NYSE:NIO), Li Auto Inc (NASDAQ:LI), and XPeng Inc (NYSE:XPEV), are also trading lower.

U.S. and Chinese officials met in London on Monday for trade talks, which, according to reports, likely focused on rare earth minerals.

The meeting came after Trump and Chinese President Xi Jinping discussed trade issues on the phone last week.

China has reportedly granted temporary approvals for the export of rare earths, while jetliner Boeing Co (NYSE:BA) has begun commercial jet deliveries in China.

Rare earth elements play significant roles, from smartphones to electric vehicles to fighter jets. The U.S. depends on China for ~70% of imports of rare earth elements, signaling U.S. supply chain risks, SCMP reported on Monday, citing analyst estimates.

PDD Holding Stock Prediction For 2025

Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.

Shares of PDD Holdings have an average 1-year price target of $132.7, representing an expected upside of 28.64%.

Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on PDD Holdings, while 5 analysts have bullish ratings. The street high price target from Citigroup is $165.0, while the street low from JP Morgan is $105.0.

Price Action: BABA shares are trading lower by 2.67%, BIDU by 0.25%, XPEV by 2.55% and NIO by 1.60%, PDD down 1.60% in the premarket session at the last check Thursday.

Read Next:

• Apple’s WWDC: Analyst Sees AI Unveil, Siri Revamp And Alibaba Deal As Catalyst For iPhone Upgrade

Photo via Shutterstock