Shares of General Motors, Ford, and Chrysler owner Stellantis all retreated Tuesday after President-elect Donald Trump vowed to impose 25% tariffs on all products coming from Mexico and Canada on his first day in office.
The stock drops reflect concerns that Trump's tariffs will mess up delicate supply chains that rely on both Mexico and Canada for parts and production.
GM shares suffered the steepest losses, dropping 8% as of Tuesday morning.
Stellantis, the parent of Chrysler, Jeep, Dodge, and Ram, lost nearly 5%.
Ford shares fell 2%.
US-listed shares of Toyota and Honda fell about 2% a piece.
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