American stocks decreased after the imposition of imported cars

US stock prices fell in noon trading today, as US President Donald Trump’s decision imposed 25% fees on US imports of cars and spare parts from next April 2 to damage and other benefit.
The Standard & Poor’s 500 index fell broadcast by 0.4%, while the industrial lost 208 points, or 0.5% by approximately one o’clock in the afternoon, and the NASDAC index fell by 0.4% during trading.

American stocks

General Motors shares, the largest car producer in the United States, decreased by 6.7%, while its rival Ford Motor fell by 2.6%. Even American auto companies that sell their cars in the local market can suffer from such because they depend on the import of car components from Canada and Mexico in particular.

Trump says these fees will increase car manufacturing operations within the United States. “There are still a lot of unknown things, but if this remains the same, it is clear that companies will face some of the pain that must be absorbed,” said Joseph Spac, an analyst at UBS.

Customs

Among the unclear matters so far how the US government identifies the way to apply fees to components that contradict the free trade agreement between the United States, Canada and Mexico, but they are not fully manufactured within the United States, as a plumbing believes that following these components can be difficult.
On the other hand, the shares of the two American electric car manufacturers have benefited Tesla and Rivian, as most of the components of their cars are produced in the United States. Rivian’s share increased by 5.9%, while Tesla rose by 2.4%.