1 juin 19
Fil d'Actus

Auto investors react to Trump’s Mexico import tariff

All major automaker stocks in the United States took a hard hit on Friday, following US president Donald Trump’s announcement to slap a 5% import tax on goods being imported into the United States from Mexico.

Considering the best-selling car brands in the US, General Motors stock fell 4.25% to US$33.34 on the New York Stock Exchange, Toyota fell 1.81% to US$117.58, Ford was down 2.26% to US$9.52, and FCA dropped 5.82% to US$12.62.

According to the president, the 5% tariff will start on June 10 and if illegal migrants coming from Mexico does not stop, the tariff will be raised by an additional 5% each month for four months.

Authored by: Daniel Bland