The article discusses the impact of President Trump's new tariffs on Japan and South Korean automotive manufacturers, as their shares plunged on Monday. Car manufacturers like Toyota, Honda, and Nissan suffered stock drops exceeding 5-7% due to fears of reduced demand from the U.S. market. Manufacturers with production in Mexico, particularly Nissan and Honda, expressed concerns about shifting production amidst the tariff threats. Additional ramifications include South Korean suppliers facing significant losses, while the potential for escalating tariffs on the EU raised further unease about a looming global trade war.
Shares of Japanese and South Korean automakers saw a significant decline due to President Trump's sweeping tariffs on Mexico, Canada, and China, impacting global demand.
Toyota, Nissan, and Honda experienced notable stock price drops, with Nissan's situation particularly precarious given its reliance on Mexican manufacturing for the U.S. market.
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