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.
U.S. President Donald Trump said the U.S. was talking to the right people in Iran to make a deal on Tuesday (24 March), as Pakistan's Prime Minister offered to host peace talks between the two countries to bring about an end to the conflict.
Afghan authorities say Pakistani jets entered northern Afghanistan, while Pakistan insists its actions target terrorism, highlighting continued strain after a temporary Eid ceasefire ended.
As conflict continues to unsettle the Middle East, airlines are being forced to make difficult, fast-moving decisions - redrawing flight paths and searching for safe skies. Amid this uncertainty, Azerbaijan has emerged as a crucial gateway linking Europe and Asia.
FinaFinal results from Slovenia’s parliamentary elections indicate a near tie between the Slovenian Democratic Party (SDS) and the liberal Freedom Movement Slovenia (GS), leaving neither side with a clear path to power.
In a metro station in downtown Tehran, pictures of Iranian school children alleged to have been killed by U.S.-Israel attacks are being displayed along the walls.
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The French government’s bid to suspend the marketplace of Chinese online retailer Shein in the country has been overruled by a Paris Court of Appeal.
The prevailing security situation in the region has done little to deter entrepreneurs from the Commonwealth of Independent States (CIS) who continue to view Dubai as a premier and safe location for business.
China has raised the retail prices of petrol and diesel after global oil prices climbed sharply. The country’s top economic planning body, the National Development and Reform Commission (NDRC), announced the move after reviewing international oil market trends.
Global financial markets remained on edge on Friday as the escalating war involving the United States, Israel and Iran continued to rattle investors, fuelling volatility in stocks and sending energy prices sharply higher.
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