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Business / World Business

Shares in European automakers sink as Trump imposes tariffs

Published: 03 Feb 2025 - 11:47 am | Last Updated: 03 Feb 2025 - 11:49 am
File photo used for representational purposes.

File photo used for representational purposes.

AFP

Paris: Shares in European automakers fell sharply on Monday after US President Donald Trump said EU goods could be next in line for tariffs after he announced levies on Canada, Mexico and China.

Shares in Volkswagen and Jeep maker Stellantis sank almost six percent while Mercedes retreated five percent and BMW and Volvo each shed 4.9 percent.

Auto supplier Forvia dropped 8.8 percent.