Reported about 5 hours ago
Auto stocks worldwide experienced significant declines following the announcement of new tariffs by US President Donald Trump. The 25% tariffs on goods from Mexico and Canada threaten to disrupt established supply chains, particularly affecting car manufacturers that rely heavily on production facilities in Mexico. Companies such as Toyota, Nissan, Volkswagen, and Stellantis saw substantial drops in their stock prices, as the tariffs could lead to increased vehicle prices and reduced sales. This situation is compounded by weaker demand for cars and growing competition from Chinese manufacturers.
Source: YAHOO