U.S. automaker stocks slide on Trump's Canada tariff hike

au.investing.com

U.S. automaker stocks fell Monday after President Donald Trump announced a 50% tariff hike on Canadian imports, effective January 1, 2027. Ford dropped 2.3%, Tesla fell 2.6%, and Stellantis declined 3.1%. The new duties apply to cars, trucks, parts, and steel from Canada. Trump stated vehicles built in the U.S. would face zero tariffs, criticizing Canada’s trade practices and citing a $60 billion deficit. Trump made the announcement on Truth Social, claiming Canada "ripped off" the U.S. for years. He emphasized that Canadian businesses rely heavily on U.S. trade, saying "We don't need Canada, they need us."


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U.S. automaker stocks slide on Trump's Canada tariff hike | News Minimalist