Auto Giants Hit Hard by Trump's Tariff Wall

President Donald Trump's announcement of a 25% tariff on imported cars has caused a significant drop in shares of major auto companies. The new tariffs are expected to increase vehicle costs and affect production across North America, raising concerns about global trade disruptions.

Major auto companies saw a significant drop in their shares on Thursday following President Donald Trump's announcement of a 25% tariff on imported cars, heightening fears of global trade turbulence.

Shares in Volkswagen, BMW, and Mercedes-Benz fell as much as 4%, while Japan's transport stocks lost $16.5 billion due to the tariffs targeting foreign automakers.

Experts warn that the new levies could add thousands of dollars to vehicle prices and disrupt the integrated manufacturing systems in North America, posing a substantial threat to the global economy.

(With inputs from agencies.)