US actions fell into early trade on Thursday when the consequences of Trump administration tariffs continued in the markets.
The industrial average Dow Jones fell around 400 points, or almost 1%, while the S& P 500 fell 1.3%. The nasdaq technological heavy sank 1.8%.
The mass sale deleted some of the market profits delivered one day before after President Donald Trump gave us a car manufacturers a month of the rates. However, duties over a large number of other goods remained in place.
At the beginning of the US, at the beginning of this week, 25% tariffs slapped in the goods of Mexico and Canada, as well as 10% of the imports of China imports. The new round of duties on Chinese products doubled an initial set of rates placed in China last month.
The delay of a month in automotive rates caused a demonstration for the actions of American car manufacturers on Wednesday, but the largest companies in the sector rejected in the first operations on Thursday.
Merchants work on the floor of the New York Stock Exchange (NYSE) on March 5, 2025 in New York City.
Spencer Platt/Getty Images
Ford shares fell 1.5%, while General Motors fell almost 3%. Stellantis, the parent company of Chrysler and Jeep, saw that the price of their shares fell 2%.
Tesla, the electric car manufacturer led by Elon Musk, fell 4.5% on Thursday.
Tariffs are expected to present a challenge for American car manufacturers, many of which depend on a closely intertwined supply chain with Mexico and Canada.
The American Automotive Policy Council, or AAPC, a commercial group that represents Ford, General Motors and Stellantis, praised the tariff exemption of a month.
“American automobile manufacturers Ford, GM and Stellantis applaud President Trump for recognizing that vehicles and pieces that meet high USMCA content requirements in the United States and regional must be exempt from these rates,” said AAPC President Matt Blunt, ABC News in a statement.
This is a development story. Consult the updates again.
