Japan’s Carmaker Shares Slump on Trump’s Auto Tariffs
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Shares of Japanese carmakers slumped after US President Donald Trump slapped a 25% tariff on all auto imports, raising concern that it will hurt sales in the key American market.
Toyota Motor Corp., the world’s largest carmaker by delivery, sank as much as 4% in Tokyo, while Honda Motor Co., which gets more than half its revenue from North America, lost about 3%. Nissan Motor Co. retreated 3.5%, while Mazda Motor Corp. slid more than 5%. Automakers were the worst performers on the Topix index.