Yahoo Finance

EV stocks Tesla (TSLA), Rivian (RIVN), and Lucid (LCID) are seeing declines after President Trump eliminated the Biden administration's EV mandate and weighs pulling back on EV tax credits and subsidies.

Yahoo Finance autos reporter Pras Subramanian weighs in on this trend and outlines what Trump's proposed 25% tariffs against Canada and Mexico could mean for North American auto importers.

RBC Capital Markets Global Autos analyst Tom Narayan told Yahoo Finance that, if enacted, Trump's Canada and Mexico tariffs would be "tremendously inflationary," especially for automakers.

To watch more expert insights and analysis on the latest market action, check out more Market Domination here.

This post was written by Luke Carberry Mogan.