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U.S.-traded shares of Stellantis and Ferrari fell after President Trump said he would raise a tariff on European cars and trucks to 25%.
Trump announced a 25% tariff on European cars and trucks starting next week.
KEY POINTS
- The tariff targets vehicles not produced in U.S.A. plants, exempting U.S.-made cars.
- Stellantis shares dropped 1.9% and Ferrari shares fell 1.5% after the announcement.
- Trump cited EU noncompliance with a trade deal as the reason for the new tariff.
COMPANIES
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