0951 GMT - Shares of European automakers are falling as U.S. President Trump began imposing tariffs on Canadian and Mexican goods as well as on Chinese imports. While major European manufacturers have production plants in the U.S., they rely on an established supply chain that import parts from Canada and Mexico. They also have production plants that build vehicles in Canada and Mexico for export to the U.S. "With Mexico the home of numerous U.S. company manufacturing plants, building around 15% of U.S.-destined cars for brands such as General Motors, Ford and Chrysler, there will be an economic blowback," says Lindsay James, investment strategist at Quilter Investors. BMW shares fall 4.4%, Mercedes-Benz shares fall 3.5%, Stellantis shares fall 5% and Volkswagen shares fall 2.6%. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
March 04, 2025 04:51 ET (09:51 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.