US Auto Stocks Plunge Amid New Import Tariffs; Tesla Gains

New US import tariffs on automobiles and auto parts, set to take effect on April 2nd, are impacting US auto stocks. Ford is down 3.0%, General Motors plummeted 6.4%, and Stellantis decreased by 1.5%. Tesla, however, increased by 0.8% due to its US-based production. The tariffs, aimed at boosting domestic auto manufacturing, are expected to negatively affect consumer confidence and slow US economic growth. Focus shifts to potential tariffs on semiconductors and pharmaceuticals, which could significantly impact emerging Asian economies.