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Tesla Stock Rises to End Its Best Month Since January 2023
GM, Other US Automakers Face Sharp Profit Squeeze From Trump Tariffs, Analysts Warn
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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."