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.
The U.S. dollar has dropped to a three-month low amid growing concerns over slowing economic growth and the impact of new tariffs.
In a retaliatory move against new U.S. tariffs, China’s Commerce Ministry announced Tuesday that it will impose additional tariffs of up to 15% on key U.S. agricultural products, while also expanding controls on business activities with major U.S. companies.
In response to the 25% tariffs recently imposed by the United States, President Claudia Sheinbaum announced Tuesday that Mexico will implement its own retaliatory tariffs on U.S. goods.
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.
China on Tuesday expanded its retaliatory measures against the United States by imposing new export and investment restrictions on 25 U.S. firms on national security grounds, while also implementing additional tariffs. The move comes amid escalating trade tensions between the two countries.
Google has open sourced SpeciesNet, an artificial intelligence model designed to automatically identify animal species from photos captured by camera traps.
Over the past two months, tech billionaire Elon Musk has increasingly promoted far-right political causes in Europe, notably lending his support to Germany’s Alternative für Deutschland (AfD).
The U.S. dollar has dropped to a three-month low amid growing concerns over slowing economic growth and the impact of new tariffs.
A centuries old tradition of cheese-throwing has brought excitement to the town of Novara di Sicilia as its residents both young and old trooped out en masse to participate in the game.
Norway’s government has affirmed that it will continue to supply fuel for U.S. Navy vessels, dismissing recent calls from a private marine fuel supplier to halt deliveries amid tensions linked to U.S.-Ukrainian relations.
Watch AnewZ Live Coverage of the Trump-Zelenskyy meeting at the Oval Office at https://anewz.tv/tv-live
Ukrainian President Volodymyr Zelenskyy reaffirmed his respect for the United States and its people in an interview with Fox News, following a tense meeting with U.S. President Donald Trump at the White House.
EU High Representative for Foreign Affairs and Security Policy/Vice-President of the European Commission, Kaja Kallas, will chair the 20th EU-Central Asia Ministerial meeting hosted this year by Turkmenistan, in Ashgabat, on 4 March.
Ford Motor Company will recall 35,328 vehicles due to a potential fire hazard linked to faulty LED lights in the exterior mirrors, the U.S. National Highway Traffic Safety Administration (NHTSA) announced on Tuesday.
The U.S. dollar has dropped to a three-month low amid growing concerns over slowing economic growth and the impact of new tariffs.
In a joint announcement at the White House on Monday, Taiwan Semiconductor Manufacturing Company (TSMC) and President Donald Trump revealed plans for a $100 billion investment to build five new semiconductor facilities in the United States.
On March 4, President of the Republic of Azerbaijan Ilham Aliyev met with Nail Maganov, General Director of Russia’s "Tatneft," Askhat Khassenov, Chairman of the Management Board of Kazakhstan’s "KazMunayGas," and Bakhodirjon Sidikov, Chairman of the Board of Uzbekistan’s "Uzbekneftegaz."
An acquisition of Versace by Italian luxury group Prada, opens new tab would create a company with a broader base that is more resistant to business cycles, but reviving the targeted brand could take years and hit short-term profits.
China on Tuesday expanded its retaliatory measures against the United States by imposing new export and investment restrictions on 25 U.S. firms on national security grounds, while also implementing additional tariffs. The move comes amid escalating trade tensions between the two countries.
Google has open sourced SpeciesNet, an artificial intelligence model designed to automatically identify animal species from photos captured by camera traps.
Over the past two months, tech billionaire Elon Musk has increasingly promoted far-right political causes in Europe, notably lending his support to Germany’s Alternative für Deutschland (AfD).
The U.S. dollar has dropped to a three-month low amid growing concerns over slowing economic growth and the impact of new tariffs.
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