Chinese stocks listed in the US were advancing in recent Tuesday trading following a report that President-elect Donald Trump's economic team is looking at a gradual approach to tariff increases.
XPeng (XPEV) was up nearly 7%, JD.com (JD) rose more than 4%, Alibaba Group (BABA) gained almost 2%, and Baidu (BIDU) climbed 2%.
A measured increase is aimed at boosting US bargaining power in tariff negotiations with China, and mitigating inflationary pressures, Bloomberg reported, citing people familiar with the matter.
Preliminary discussions are underway on a tariff escalation proposal involving incremental increases of 2% to 5% monthly, according to the report.
Those working on a plan include Scott Bessent, the nominee for Treasury secretary, Kevin Hassett, who will be director of the National Economic Council, and Stephen Miran, nominated to lead the Council of Economic Advisers, the report said.
Price: 12.56, Change: +0.75, Percent Change: +6.38
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