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.
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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.
A small, silent object from another star is cutting through the Solar System. It’s real, not a film, and one scientist thinks it might be sending a message.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
U.S. stocks were mixed late Wednesday as traders digested comments from Federal Reserve Chair Jerome Powell, who signaled that another interest rate cut in December is far from guaranteed. The Dow Jones Industrial Average and S&P 500 edged slightly lower, while the Nasdaq climbed on continued gains
U.S. chipmaker Nvidia has made history by becoming the first company in the world to reach a market value of 5 trillion dollars, driven by soaring demand for artificial intelligence technologies.
Nokia announced on Tuesday that chipmaker Nvidia will acquire a $1 billion stake in the company.
Türkiye’s main stock index, BIST 100, closed on Friday at 10,941.79 points, recording a 3.14% increase.
Türkiye has emerged as Europe’s largest steel producer and the world’s seventh largest in the first eight months of 2025, producing 36.9 million tonnes last year, according to sector officials.
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