(Reuters) – Shares in some of the biggest European carmakers moved lower on Thursday after U.S. President Donald Trump floated a 25% “reciprocal” tariff on European cars and other goods.
Europe’s automobiles and parts index retreated by 3.4% to two-week lows, falling the most among other sectoral indices on the region’s STOXX 600 index, which slipped by 0.6%.
Trump, asked whether he has decided on a tariff rate for goods from the European Union, replied: “We have made a decision, and we’ll be announcing it very soon, and it’ll be 25%, generally speaking, and that’ll be on cars, and all of the things.”
Germany’s Porsche, BMW, Volkswagen and Mercedes Benz all lost between 2.4% and 2.8% by 0902 GMT.
Volvo Cars was down 4.3%, while Stellantis slipped 2.4%.
(Reporting by Anna Pruchnicka, editing by Alun John)
