Shares in European carmakers and automotive suppliers fell sharply on Tuesday after the U.S. implemented a 25% tariff on imports from Mexico, a key production hub for the automotive sector supplying the American market.
The STOXX Europe 600 Automobiles and Parts index dropped 3.8%, reflecting widespread concern among companies such as Volkswagen, Stellantis, and BMW, all of which operate manufacturing sites in Mexico.
According to data from Mexico's automotive industry association, Stellantis and the Volkswagen Group are among the largest European exporters of light vehicles to North America from Mexico. German supplier Continental, which provided a cautious outlook for 2025, indicated that it would review the tariff’s impact on its facilities in both Mexico and Canada before making further decisions. Continental’s shares were down 8.4% following the announcement.
The tariffs have been particularly challenging for Germany's export-oriented carmakers, many of which have built up capacity in Mexico over the years to complement their major production hubs in the United States. German Economy Minister Robert Habeck commented on the measures, stating, "The EU will not be pushed around. If President Trump imposes the announced tariffs on EU products, we will react with unity and self-confidence."
As European policymakers and industry leaders assess the economic fallout, the new tariffs have intensified calls for open trade policies that support Europe's industrial base. The developments underscore the growing tensions in transatlantic trade relations and highlight the potential long-term implications for global automotive supply chains.
A massive explosion at Shahid Rajaee Port in southern Iran on Saturday killed at least four people and injured nearly 600 others, officials said, prompting an urgent government investigation.
Saudi Arabia on Friday unveiled its annual report highlighting the Kingdom’s advancements toward achieving the ambitious goals of Vision 2030 during the year 2024.
Two construction workers were critically injured Friday when suspected World War II-era ordnance exploded at a site near Slovenia’s capital, Ljubljana, police said.
Turkish Foreign Minister Hakan Fidan is set to visit Qatar on Sunday to discuss ways to deepen bilateral ties and coordinate on key regional matters, continuing the momentum from recent diplomatic exchanges.
Top Iranian and U.S. negotiators began a new round of indirect talks on Saturday in Muscat, seeking to broker a deal to curb Tehran's nuclear programme, as President Donald Trump expressed optimism about reaching an agreement.
China has rolled out the world’s first 10-gigabit (10G) fixed broadband network in Xiong'an New Area, promising ultra-fast speeds and low latency through cutting-edge optical infrastructure.
Pope Francis's relationship with Azerbaijan has evolved significantly over the years, characterized by diplomatic exchanges, promotion of religious tolerance, and peace advocacy in the Caucasus region.
Russia launched a major missile and drone assault on Kyiv overnight on April 24, killing at least twelve people and injuring 90, including children and a pregnant woman, according to Mayor Vitali Klitschko.
China’s pivot away from U.S. liquefied petroleum gas under new tariffs is shaking global energy flows, slashing demand, and fuelling a scramble for alternatives across Asia, with Middle Eastern suppliers and rival buyers seizing the moment.
A deadly attack targeting tourists in India’s Jammu and Kashmir territory has left at least 20 feared dead, marking the deadliest incident against civilians in the region for years, according to security sources.
President Donald Trump on Thursday signed an executive order aimed at boosting the deep-sea mining industry, marking his latest attempt to boost U.S. access to nickel, copper and other critical minerals used widely across the economy.
Uzbekistan and Iran have agreed to establish a Joint Business Council aimed at fostering development of business ties and facilitating the resolution of issues between entrepreneurs from both countries.
Brussels has fined Apple and Meta over €700 million combined, launching its first crackdown under the Digital Markets Act aimed at curbing big tech’s power and boosting competition in the digital economy.
The Trump administration is considering reducing tariffs on Chinese imports, aiming to ease tensions with Beijing as trade negotiations continue, a source familiar with the matter said on Wednesday.
Iran informed China on Wednesday about ongoing nuclear negotiations with the US, expressing a commitment to diplomacy despite past setbacks and urging stronger bilateral cooperation under their 25-year strategic agreement.
A massive explosion at Shahid Rajaee Port in southern Iran on Saturday killed at least four people and injured nearly 600 others, officials said, prompting an urgent government investigation.
Saudi Arabia on Friday unveiled its annual report highlighting the Kingdom’s advancements toward achieving the ambitious goals of Vision 2030 during the year 2024.
Two construction workers were critically injured Friday when suspected World War II-era ordnance exploded at a site near Slovenia’s capital, Ljubljana, police said.
Turkish Foreign Minister Hakan Fidan is set to visit Qatar on Sunday to discuss ways to deepen bilateral ties and coordinate on key regional matters, continuing the momentum from recent diplomatic exchanges.
Top Iranian and U.S. negotiators began a new round of indirect talks on Saturday in Muscat, seeking to broker a deal to curb Tehran's nuclear programme, as President Donald Trump expressed optimism about reaching an agreement.
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