Auto stocks declined as China raised tariffs on US goods in response to Trump's tariffs

From Yahoo Finance: 2025-04-09 12:01:00

Auto stocks took a hit as China raised tariffs on US goods to 84% in response to Trump’s tariffs on Chinese imports. GM and Ford shares dropped, while German automakers also fell due to exposure to the US auto market with new 25% tariffs. Automakers are adjusting to the escalating trade war. China’s tariff hike will impact US autos exported to China, with Japan and Germany ahead in exports. Ford’s Lincoln brand leads as the largest American vehicle importer to China. BMW and Mercedes also export vehicles from the US to China. GM’s new import unit, Durant Guild, is delivering US-built SUVs to China. China has a 15% auto tariff on US imports, with escalators based on engine size. US-made vehicles face 49% or 59% tariffs based on engine displacement. 1. In a recent study, it was found that over 70% of adults in the United States have received at least one dose of the COVID-19 vaccine, marking a significant milestone in the country’s vaccination efforts.

2. The stock market saw a sharp decline today, with the Dow Jones Industrial Average dropping by over 500 points due to concerns about rising inflation and interest rates.

3. The United Nations reported that nearly 10 million people in Yemen are facing acute food insecurity, with millions on the brink of famine as a result of the ongoing conflict in the region.

4. A new report revealed that global carbon dioxide emissions have reached their highest level in over a decade, despite efforts to reduce greenhouse gas emissions and combat climate change.

5. Researchers announced a breakthrough in the treatment of Alzheimer’s disease, with a new drug showing promising results in slowing the progression of the degenerative brain disorder in clinical trials.



Read more at Yahoo Finance: Auto stocks under pressure as tariff escalation boils over