Automaker stocks slumped following President Donald Trump’s announcement that he will place 25% tariffs on auto imports
Following President Trump's announcement of 25% auto import tariffs, shares of major automakers like GM, Honda, and Toyota slumped, with GM falling 8.2%. Tesla was an exception, with its shares rising over 5%. The tariffs, set to take effect April 3, are expected to increase costs for automakers and potentially boost inflation.
