“Shares in European automakers fell as traders reacted to President-elect Donald Trump’s promise of steep tariffs on Canada, Mexico and China, news that raised concerns about a potential global trade war.”, — write: epravda.com.ua
Shares in European automakers fell as traders reacted to President-elect Donald Trump’s promise of steep tariffs on Canada, Mexico and China, news that raised concerns about a potential global trade war. This is reported by Reuters. A basket of European auto and parts stocks was Europe’s worst performer, down 1.7%, compared with a 0.7% drop for the broader STOXX 600. In a post on Truth Social, Trump said on the first day of his while in office, he will impose a 25% tariff on all goods from Mexico and Canada, as well as an additional 10% tariff on goods from China.Advertisement: Shares Germany’s Volkswagen fell 2.1%, while Stellantis – maker of Chrysler, Dodge and Fiat, among other big brands – fell the most at 4.1%.Advertisement: Italian broker Intermonte said Stellantis would be “the hardest hit” by tariffs on US imports from Mexico, as the group imported 358,000 units in 2023. French auto parts maker Valeo fell 2.5%, while German luxury brand BMW fell 1.5%. Shares of Volvo Car fell more than 3%, and Daimler Truck fell 3.4%. Read also: Trump plans to collapse oil prices. How realistic is it and how will it affect Russia?
