Volkswagen AG and Stellantis NV led the steepest intraday decline in European auto shares since April as US President Donald Trump’s new tariffs promised to cut into sales from their factories in Mexico.

(Reuters) - Shares in some of the biggest European carmakers slumped on Monday after U.S. President Donald Trump imposed new tariffs of 25% on goods from Mexico and Canada and 10% on imports from China, raising concern over possible duties on EU imports too.

Shares in some of the biggest European carmakers dipped on Monday following the announcement of sharp tariffs by U.S. President Donald Trump on

President Trump’s imposition of 25-percent tariffs on products from Canada and Mexico (and 10 percent on Canadian energy and Chinese products) over the weekend will add an avera