Auto Stocks Plunge on Tariffs
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•Technology
Technology
Auto stocks slide after Trump fires first salvo in trade battle
75% Informative
President Donald Trump announced tariffs on Canada , China , and Mexico on Saturday .
The levies could cost carmakers importing from those countries an extra $33 billion , per Nomura estimates.
Japanese and European carmakers were especially exposed to the tariffs on Mexico .
The onslaught of tariffs is likely to have a dire impact on the automotive industry both globally and in the US .