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The Guardian - UK
The Guardian - UK
Business
Jasper Jolly

German carmakers’ shares slump on fear Trump will impose steep tariffs

Donald Trump BMW European Union Elon Musk United States China Europe Toyota
Workers inspect the raised bonnet of a car on the BMW production line in Munich, Germany
Workers inspect a vehicle's finish at BMW’s factory in Munich, Germany. Photograph: Leonhard Simon/Getty Images

German carmakers’ share prices have slumped amid fears Donald Trump will impose steep tariffs on the industry after winning the US presidency for the second time.

BMW shares fell by 6.6%, Mercedes-Benz by 6.4%, Porsche by 4.9% and Volkswagen by 4.3% as investors scrambled to adjust to Trump’s victory. The four firms were the among the biggest fallers on Germany’s DAX stock market index on Wednesday.

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The Guardian - UK
The Guardian - UK
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