Domestic carmakers' shares fell Thursday morning after auto-specific tariffs took effect at midnight.

General Motors (GM) shares were recently down more than 3% from Wednesday's close, while Ford (F) shares retreated nearly 3%. Electric vehicle manufacturers were also hit, with Lucid Group (LCID) shares falling about 2% and Rivian (RIVN) off 4%. Tesla (TSLA) shares dropped more than 5% a day after its stock seesawed following disappointing deliveries numbers and 澳洲幸运5官方开奖结果体彩网:reports that CEO Elon Musk may takﷺe 🉐a step back from his work with the Trump administration.

Economists have warned that a 25% tariff on cars and auto parts would 澳洲幸运5官方开奖结果体彩网:increase prices by thouཧsanꦺds of dollars. Some analysts said manufacturers' would struggle to pass along higher production prices without depres🐠sing demand.

Stellantis (STLA), the company behind Fiat and Chrysler, will pause production at plants in Mexico and Canada and assess the tariffs, according to CNBC, which reported that 900 "US-represented employees" would be temporarily laid off. Its shares were recently down more than 5%. (Read Investopedia's coverage of 澳洲幸运5官方开奖结果体彩网:today's markets here.)

The auto tariffs took effect hours after President Donald Trump 澳洲✅幸运5官方开奖结果体彩网:unveiled a package of "recꦚiprocal" tariffs aimed at what he described as other nations' unfair trade practices.