US Raises Concerns Over Possible ASML EUV Machine Transfer to China 
Kingboard Holdings Shares Surge After HK$11.77 Billion Block Trade to Expand PCB and AI Supply Chain Business 
Frank Stronach Found Guilty of Sexual Assault and Indecent Assault in Ontario Court 
Google Gemini Co-Lead Noam Shazeer Leaves for OpenAI Amid AI Talent Race 
100+ Global Companies Push Governments to Prioritize Electrification for Economic Growth 
Chinese Social Media Giant Xiaohongshu Eyes Hong Kong IPO at Over $70 Billion Valuation 
Jio IPO Filing Nears as Reliance Targets $4 Billion Market Debut 
Hyundai to Acquire SoftBank’s Remaining Boston Dynamics Stake for $325 Million 
Saudi Aramco Explores Sulphur Business Stake Sale to Raise Billions 
Obayashi to Acquire Multiplex in $526M Expansion Deal 
JPMorgan Sees Strong Strategic Value in Potential AbbVie Acquisition of Apogee Therapeutics 
Google’s Open-Source AI Data Center Cooling Design Raises Commoditization Concerns 
J.P. Morgan Sees Potential Vestas Guidance Upgrade Amid Strong Wind Energy Demand 
Trump Says Anthropic No Longer Seen as National Security Threat 
SK Hynix Overtakes Samsung as South Korea’s Most Valuable Company 
Ukrainian Drone Makers Target Japan and Asia Defense Market 
Meta Seeks Legal Shield From Child-Harm Lawsuits Amid KOSA Talks 
Shares of major automakers tumbled on Monday after U.S. President Donald Trump imposed new tariffs on key trading partners, raising concerns over higher costs and supply chain disruptions. The U.S. slapped a 25% tariff on imports from Canada and Mexico, with an additional 10% levy on Canadian energy products and goods from China.
The automotive industry, heavily reliant on cross-border manufacturing, is particularly vulnerable. Many automakers produce vehicles in Canada or Mexico and export them to the U.S., making the tariffs a major blow to their operations. Analysts at Bernstein estimate that the U.S. automotive sector could face up to $40 billion in additional costs annually, increasing the average vehicle price by 7%. The higher costs could lead to lower sales and significantly impact earnings in 2025.
The news triggered a global selloff in auto stocks. In Asian markets, Toyota (TYO:7203), Honda (TYO:7267), and Nissan (TYO:7201) saw sharp declines due to their production links with Mexico. In Europe, Germany’s Volkswagen (ETR:VOWG_p) and BMW (ETR:BMWG), along with France’s Renault (EPA:RENA) and auto parts maker Valeo (EPA:VLOF), also suffered losses. Milan-listed Stellantis NV (BIT:STLAM), the parent company of Dodge and Jeep, dropped as well.
U.S. automakers weren’t spared, with Ford (NYSE:F) and General Motors (NYSE:GM) slipping in premarket trading. GM, which manufactures more vehicles in Mexico than any other carmaker, is particularly exposed to the tariffs.
If the trade barriers remain, the auto industry faces a potential earnings slump and higher vehicle prices, adding uncertainty to an already challenging market environment.
