How automakers are responding to Trump’s tariffs
From Yahoo Finance: 2025-04-03 13:50:00
President Trump’s 25% tariffs on foreign-made cars prompt automakers like GM, Ford, and Stellantis to respond. GM and Stellantis remain quiet for now, while Ford implements price cuts. Volkswagen adds an “import fee” to affected vehicles and suspends rail shipments. Luxury automakers like Mercedes and BMW consider price adjustments.
Stellantis confirms layoffs of 900 US-based workers due to tariffs, drawing ire from Trump. German automaker Porsche may pass tariff costs to US buyers. Wall Street concerns grow over how automakers will navigate tariffs, with uncertainty around future actions and structural changes. Stay tuned for updates on this developing story. 1. The stock market reached new highs today, with the S&P 500 closing at a record level. Tech stocks led the way, with gains in companies like Apple and Amazon driving the market’s rally.
2. A new study published in a leading medical journal suggests that wearing a mask can significantly reduce the risk of contracting COVID-19. The study found that mask-wearing was associated with a 70% reduction in transmission of the virus.
3. In a major breakthrough, scientists have discovered a new species of dinosaur in Argentina. The dinosaur, named Llukalkan aliocranianus, is a carnivorous creature that roamed the Earth over 80 million years ago.
4. The United Nations has issued a warning about the growing threat of climate change, urging countries to take immediate action to reduce carbon emissions. The UN report highlights the need for global cooperation to combat the effects of climate change.
5. In sports news, the Tokyo Olympics are set to begin in just a few weeks. Despite concerns about COVID-19 and safety protocols, athletes from around the world are preparing to compete in the highly anticipated event.