- Title: FILE: Auto industry rocked by Trump's 25% tariffs on US imports
- Date: 27th March 2025
- Summary: AGUASCALIENTES, MEXICO (FILE) (REUTERS) CLOSE-UP OF NISSAN CAR ON PRODUCTION LINE WITH BONNET UP FACTORY EMPLOYEE CLEANING AROUND WHEEL OF CAR ON PRODUCTION LINE EMPLOYEES CLEANING CAR PARTS ON PRODUCTION LINE EMPLOYEES CHECKING CARS ON PRODUCTION LINE EMPLOYEE WORKING ON NISSAN CAR WITH BONNET UP ACAPULCO, MEXICO (FILE) (REUTERS) VARIOUS OF NEW VOLKSWAGEN CARS DRIVING INT
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- Keywords: Auto Auto industry Donald Trump Trump USA car cars tariffs
- Location: VARIOUS
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- Country: Various
- Topics: Commodities Markets,Economic Events
- Reuters ID: LVA001204127032025RP1
- Aspect Ratio: 16:9
- Story Text: U.S. automakers and their global rivals were rocked on Thursday (March 27) by President Donald Trump's announcement on Wednesday (March 26) that he would impose 25% tariffs on all vehicles and foreign-made auto parts imported into the United States.
Shares of U.S. automakers tumbled in premarket trading and European banking shares fell on Thursday in response to the plans.
The new levies, if kept for an extended period, could add thousands of dollars to the cost of an average U.S. vehicle purchase and impede car production across North America.
That will be because of the intertwined manufacturing operations developed by car makers across Canada, Mexico and the United States over the last three decades.
Nearly half of all cars sold in the U.S. last year were imported, research firm GlobalData says.
In response to the news, shares of General Motors GM.N slumped 8% in after-market trading. Shares in Ford F.N and U.S.-traded shares of Chrysler-parent Stellantis STLA.NSTLAM.MI fell about 4.5% each.
(Production: Natasha Montague) - Copyright Holder: FILE REUTERS (CAN SELL)
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