Global auto industry stocks slump as 25 per cent tariff on U.S. imports looms

From bnnbloomberg.ca

Automaker stocks around the world slumped on Thursday after U.S. President Donald Trump said that he would impose 25 per cent tariffs on all vehicles and foreign-made auto parts imported into the United States. Volkswagen, BMW, Mercedes-Benz, Porsche and Continental lost 4.5 billion euros (US$4.84 billion) in combined market value on Thursday, as investors panicked at the prospect of more costs and complexity in an industry already struggling with a slow ramp-up of electrification and high logistics costs. Carmakers must now decide whether to localize more production in the U.S. to avoid the tariffs, swallow the ... (full story)