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US auto stocks fall amid Trump's Canada warnings
U.S. automobile stocks declined after President Donald Trump announced plans to raise tariffs on Canadian cars to 50% starting in January 2027. This applies to all vehicles, trucks, and spare parts. Trump stated that American companies manufacturing within the United States will not be subject to any tariffs, describing Canada as no longer being treated as a province. Ford's stock dropped by 2.2%, General Motors by 1%, and Stellantis by 3.2%, while the S&P Automotive Index has fallen by 19% since the beginning of the year.
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