The re-election of Donald Trump led to a sharp decline in shares of major German automakers, dropping between 4.6% and 6.4%, due to fears of increased tariffs.
Trump's indication of potential new tariffs, including rates as high as 75%, has raised concerns among German car manufacturers about their significant dependence on the U.S. market.
Despite Trump's claims about foreign trade practices, the European Union remains crucial to the German automotive sector, which not only exports but also faces challenges from China.
Trump's statements reflect a broader trade strategy that may destabilize market confidence in German car manufacturers, who collectively sold 12.9% of their production in the U.S. in 2023.
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