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General Motors Newsroom
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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.
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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."
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.
Why GM Stock Is Getting Crushed by Trump Tariff Threats -- and Ford Isn't -- Barrons.com
General Motors Options Spot-On: On November 26th, 150.81K Contracts Were Traded, With 895.3K Open Interest