(27 Mar 2025)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Newark, New Jersey – 27 March 2025
1. Various of new cars at Port Newark Container Terminal
STORYLINE:
President Donald Trump says he is placing 25% tariffs on auto imports.
The White House says the move will foster domestic manufacturing, but it could also put a financial squeeze on automakers that depend on global supply chains.
Trump said Wednesday that “this will continue to spur growth.” The tariffs could be complicated as even U.S. automakers source their components from around the world.
That means they could face higher costs and lower sales.
Shares in General Motors tumbled roughly 5% in Thursday morning trading.
Ford’s stock fell 2%.
Shares in Stellantis, the owner of Jeep and Chrysler, dropped 1%. But the stock prices of electric vehicle makers Tesla and Rivian were up.
AP video shot by Ted Shaffrey
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