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.
As the 2026 World Cup kicked off on 11 June across North America, U.S. visa restrictions and travel policies have made it impossible for supporters, ...
Middle East tensions remain high as the U.S. and Iran exchange strikes while signalling progress towards a possible deal. Clashes around the Strait of...
Every June, roughly 13 million young people in China sit down at the same time to take the same test. They have been preparing for it, in many cases, ...
European museums are increasingly returning cultural artefacts to countries in Africa and the Middle East, as pressure grows to address the legacy of ...
Uzbekistan will launch a new digital financial platform from 1 July aimed at simplifying access to finance for entrepreneurs, as part of broader effor...
The U.S. will lower tariffs on Japanese cars and auto parts by 16 September under a trade deal formalised by President Donald Trump, Japan’s chief negotiator said Tuesday.
Ford is recalling more than 355,000 pickup trucks across the U.S. after a dashboard instrument display failure was found that may prevent drivers from seeing critical information such as vehicle speed and warning lights.
Canada has suspended Tesla rebate payments and barred the automaker from future EV incentives due to U.S. tariffs. Transport Minister Chrystia Freeland said the freeze will remain until claims are individually reviewed.
Electric vehicle manufacturer BYD is under investigation in Brazil after hundreds of Chinese workers were brought into the country on irregular visas to work on a factory construction in Bahia, with many found in "slavery-like conditions," according to labor authorities, Reuters reports.
SpaceX has made history with the largest initial public offering ever in the United States, pricing its shares at $135 each and achieving a market valuation of $1.77 trillion.
SpaceX made a historic entrance into the Nasdaq on Friday, surging over 20% in its first day of trading and lifting its valuation to more than $2 trillion. Investors flocked to the world’s largest IPO, betting on Elon Musk’s sprawling empire spanning rockets, AI and beyond.
While France hosts next week’s Group of Seven summit, businesses in neighbouring Switzerland have already begun taking precautions, with many shops in Geneva boarded up ahead of a large anti-G7 demonstration expected on Sunday.
Italian Prime Minister Giorgia Meloni and Polish Prime Minister Donald Tusk have criticised Britain, France and Germany for leaving them out of talks with Russia about a potential future peace deal for Ukraine.
Formula 1 driver Pierre Gasly’s Monaco Grand Prix podium has been reinstated after Alpine successfully challenged his post-race penalties through a Right of Review request with the FIA.
At the start of 2026, something unusual happened in China's car market. BYD, the company that had spent years at the top of the domestic sales charts, was knocked off its perch by a rival.
Apple has unveiled a long-awaited upgrade to Siri, aiming to close the gap with technology rivals and emerging artificial intelligence firms in an increasingly competitive market.
ChatGPT maker OpenAI has confidentially filed for a U.S. initial public offering (IPO), the company said on Monday, joining rival Anthropic in a race to the stock market as investors seek exposure to the artificial intelligence boom.
Chinese carmakers are rapidly reshaping the global automotive market, with record exports, soaring electric vehicle sales and growing investments overseas putting pressure on established European, Japanese and U.S. rivals.
The International Labour Organization (ILO) has begun its latest round of negotiations on creating the first binding global standards for platform-based work, covering services such as ride-hailing, food delivery and other app-based work.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment