Not only European auto manufacturers, general motors (GM.US) and other American counterparts will also be affected by Trump's tariff "big stick".

The incoming usa president Trump plans to impose a 25% tariff on all autos imported from Mexico and Canada, which may impact the profits of usa auto manufacturers.

Zhitong Finance04:13 ET

DBS Maintains General Motors(GM.US) With Hold Rating, Cuts Target Price to $55

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General Motors: Hold Rating Maintained Amid Market Challenges and Strategic Developments

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Lifting a stone to hit one's own foot! As soon as the tariff threat from Trump emerged, the stock prices of usa auto giants plummeted.

① The usa's incoming president Trump threatened to impose a 25% tariff on imported commodities from Mexico and Canada, causing shares of major us autos companies to plummet, with general motors falling nearly 9%. ② The tariffs may harm employment in both the usa and Mexico, and deal a blow to us consumers, which is undoubtedly Trump "lifting a rock only to drop it on his own foot."

cls.cn19:48 ET

U.S. stocks closed: The Dow and S&P reached all-time highs, while general motors plunged nearly 9%.

① Most technology giants rose, only Tesla fell; ② Eli Lilly and Co rose by 4.5%, as Biden proposed health insurance coverage for weight loss drugs; ③ The Chinese concept stock Jinlong Index fell by 0.8%, Nio fell by 7.7%; ④ Apple proposed to increase investment by 0.1 billion US dollars to seek to lift the sales ban, but was rejected by the Indonesian government.

cls.cn17:42 ET

Why GM Stock Is Getting Crushed by Trump Tariff Threats -- and Ford Isn't -- Barrons.com

Barron's17:07 ET