Reuters said shares of Ford fell as much as 2.4 percent, Stellantis dropped 3.3 percent and General Motors slid 1.5 percent after Trump’s announcement; Sky News also reported declines in all three.
The same article added that Mercedes‑Benz plans US$4bn of investment in its Alabama plant through 2030 and US$7bn in total US operations, and that its operating profit more than halved to 5.8bn euros partly because of 1bn euros in tariff costs.
The timing adds macro risk.
AP News reported that the Iran war has “crushed the world economy,” with expectations of slower growth and higher inflation as oil and natural gas prices climb following the effective closure of the Strait of Hormuz after US and Israeli strikes at the end of February.
The same outlet higher energy costs pushed US inflation to 3.3 percent in March, above the rate Trump inherited, and only 30 percent of US adults approve of his handling of the economy, according to the latest AP‑NORC poll.