From NBC Universal: 2024-11-26 13:05:20

President-elect Donald Trump’s threat to impose 25% tariffs on goods from Canada and Mexico caused shares of automakers GM and Stellantis to drop. The automotive industry relies heavily on production in Mexico and Canada for vehicles and parts. Trump’s plan could impact major automakers like GM, Ford, Stellantis, Toyota, and Honda, leading to stock price declines. Trump also announced plans to raise tariffs on Chinese goods, potentially ending the USMCA trade deal. Analysts view the tariffs as a negotiation tactic to influence trade agreements. Trump has floated various tariff proposals, including a 200% duty on Mexican vehicles. Stock prices of GM, Ford, Stellantis, Toyota, and Honda dropped in response to the news. The American Automotive Policy Council and automakers declined to comment on the potential tariffs. Analysts see the tariffs as a negotiation strategy to achieve favorable outcomes for America. Trump and Democrats agree that changes are needed in trade deals to address Chinese manufacturers like BYD. Trump’s tariff proposals include high duties on European vehicles as well.



Read more at NBC Universal: GM, Stellantis shares fall on Trump tariff threat for Mexico, Canada