GM, Stellantis shares fall on Trump tariff threat for Mexico, Canada [Video]

DETROIT – Shares of automakers General Motors and Stellantis fell Tuesday after President-elect Donald Trump threatened to put 25% tariffs on goods imported from Canada and Mexico into the U.S.

Such tariffs would have a major impact on the global automotive industry, which has used the countries, particularly Mexico, for lower-cost production of vehicles since the North American Free Trade Agreement went into effect in 1994.

UBS reports the automotive industry is responsible for 26% of imports from Mexico to the U.S., including vehicles and parts, and 12% from Canada.

Nearly every major automaker operating in the U.S. has factories in Mexico, however GM and Stellantis produce highly profitable full-size pickup trucks there.

Shares of GM, which has five large assembly plants in the countries that …