Shares of US automakers tumbled on worries that a new round of tariffs imposed by President-elect Donald Trump will cause sticker prices to soar even further.
Trump said that he would impose additional 10% levies on goods from China and 25% on all products from Mexico and Canada – critical trade routes for the auto industry’s global supply chain. It’s unclear how new tariffs would be implemented under an existing trade agreement between the US, Canada and Mexico, but the threat underscores the incoming president’s intention to shake up global trade ties.
Tariffs of that magnitu