Ford and Stellantis Drop 4% as Trump Sets 50% Auto Tariffs on Canada, General Motors Slips

Ford and Stellantis dropped 4% each after President Trump announced 50% tariffs on Canadian vehicles and parts starting January 2027. Canada's ambassador, Mark Wiseman, stated that the written trade text contradicted what Canada believed it had agreed to, causing the breakdown of U.S.-Canada talks. The tariffs would affect about $20 billion of Canadian goods, accounting for 5% of Canada's exports to the U.S. Canada's ambassador to the U.S. expressed concern that medium and heavy-duty vehicles needed to be included in any tariff relief, as it directly impacts General Motors and Ford, both of which have assembly plants in Canada.