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Tariffs on Mexico, Canada Hit Europe’s Automakers
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It isn’t just Detroit: Europe’s beleaguered automakers are also affected by high tariffs on imports from Mexico and Canada. Shares in Volkswagen, Mercedes-Benz and BMW all dropped early Tuesday, echoing the declines in U.S. auto stocks Monday, when President Trump said the 25% tariffs he had threatened would go ahead. The three German carmakers all have plants in Mexico they used to manufacture cheaper models for the U.S. They also have U.S. plants in which they could potentially expand production, albeit at a cost.
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