Trump’s tariff pushes Asian cars shares for the second day

Asian car shares decreased for the second day in a row, as investors were concerned about the tariff for US President Donald Trump on cars and some auto parts that were not made in the country.

Japanese automaker companies Toyota and Honda 4.29 % and 4.24 % decreased, respectively, Friday. AprilThat has three plants in Mexico, decreased by 1.63 %. Mazda MotoR lost 3.99 % while Mitsubishi engine 1.27 % decreased.

South Korea Kia Motors, which has a Manufacturing factory in Mexico2.66 % circulated, while Hyundai Motor 3.53 % decreased.

The shares of some Chinese car manufacturers also decreased, as the shares of NIO, which is made by electricity cars, decreased by 7.83 % in Hong Kong. Xpeng and Car 0.57 % and 0.78 %, respectively.

The new customs duties will apply on April 2, and it will target imported passenger vehicles and light trucks, as well as major auto parts including engines and transportation, The White House said.

According to analysts, these definitions It is expected to raise prices for buyers From both foreign And locally made Vehicles Thousands of dollars.

Goldman Sachs believe that prices on imported cars may rise by $ 5,000 to $ 15,000. Mark Dylani, an investment bank analyst, said that locally made cars can also witness costs to up to $ 8,000.

More than 90 % of US car imports come from its five commercial partners: the European Union, Canada, Mexico, South Korea and Japan, according to Anz.

Anz analysts said concerns about a “lengthy commercial war” and it seems that Canada and some other trade partners express their intention to revenge, and it appears to be concerns.

Trump has He threatened to impose a “much larger” tariff In Canada and the European Union if they join hands to combat American commercial tariffs.

The Eurasia Political Group said that the challenge of implementing the definitions lies in developing a process to apply the duties of parts to cars.

“Car importers will be granted under the United States, Mexico and Cananga agreement the opportunity to ratify their content in the United States and their systems will be implemented so that the tariff does not apply by 25 % except to the value of non -American content,” according to the White House statement.

It is worth noting that a 25 % tariff will not apply to USMCA cars to create a trade secretary, in consultation with CBP, a method for a tariff of non -American content only for these parts, “according to the Euroasia Group.

– Kevin Proninger of CNBC contributed to this report.