Shares of Asian automakers dropped after Trump signed an executive order imposing tariffs on foreign-made cars and light trucks, effective April 2. Toyota, Honda, Mazda, Nissan, and Mitsubishi all saw their shares decline following the tariff announcement. Kia Motors, Nio, and Xpeng also experienced drops in their stock prices. The White House estimated the new tariffs could generate over $100 billion in annual revenue. iSeeCars analyst Karl Brauer warned the global supply chain will still raise production costs even for cars assembled in the U.S., with costs either cutting into profits or being passed to consumers.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Shares of Asian automakers dropped after Trump signed an executive order
00:05imposing tariffs on foreign-made cars and light trucks effective April 2nd.
00:09Toyota, Honda, Mazda, Nissan, and Mitsubishi all saw their shares decline
00:15following the tariff announcement.
00:16Kia Motors, NIO, and Ex-Bank also experienced drops in their stock prices.
00:21White House estimated the new tariffs could generate over $100 billion in annual revenue.
00:26I see cars analyst Karl Brauer warn the global supply chain will still raise production costs
00:31even for cars assembled in the U.S., with costs either cutting into profits
00:34or being passed on to consumers.
00:36For all things money, visit Benzinga.com.