Trump didn’t wait until “Liberation Day” to announce autos tariffs — stocks sink
President Trump announced plans to impose a 25% tariff on cars and auto parts from overseas on Wednesday.
The move will affect completed cars and trucks that are shipped to the US, as well as imported parts that are assembled into cars at US auto manufacturers, and is expected to go into effect April 3 — a day after “Liberation Day” duties are expected to hit a variety of goods from Canada, Mexico, and other trading partners.
Though details about the plan remain unclear, US auto stocks have already been dented by the news. Ford was down 4% in premarket trading (though it’s since pared those losses), Stellantis was down 2%, while General Motors was hit hardest, dropping as much as 7%. At the same time, American electric vehicle manufacturers Rivian and Tesla were modestly in the green.
International auto stocks also slumped, with Toyota, Volkswagen, and BMW in the red.
Though details about the plan remain unclear, US auto stocks have already been dented by the news. Ford was down 4% in premarket trading (though it’s since pared those losses), Stellantis was down 2%, while General Motors was hit hardest, dropping as much as 7%. At the same time, American electric vehicle manufacturers Rivian and Tesla were modestly in the green.
International auto stocks also slumped, with Toyota, Volkswagen, and BMW in the red.
