European carmaker shares slide as Trump threatens new tariffs over Greenland dispute
Crypto Briefing
European carmaker shares dropped following President Trump's threat of new US tariffs linked to the Greenland dispute.Summary
Shares of major European carmakers, including Volkswagen, BMW, and Mercedes-Benz Group, experienced a sharp decline after US President Donald Trump announced plans to impose new tariffs on several European countries. The proposed 10% tariff, starting February 1 and potentially rising to 25% by June 1, is tied to Trump's efforts to gain control over Greenland, a Danish territory. In response, the European Union signaled it is preparing up to €93 billion in retaliatory tariffs should the US proceed with the levies. The automotive sector is particularly vulnerable due to its extensive globalized supply chains and manufacturing reliance across borders, including significant exposure to North America.
(Source：Crypto Briefing)