US automakers fall as China announces retaliatory tariffs

Forward Industries

04/04/2025 15:07

** Shares of U.S.-based automakers fall as China slaps additional tariffs of 34% on U.S. imports into the country

** Ford F.N down 2.4% and General Motors GM.N down 4.3%

** In 2024, GM sold 1.83 million vehicles in China, accounting for 30.6% of its total vehicle sales

** China represented 11.6% of Ford's 2024 wholesales, which primarily includes vehicles sold to dealerships

** Separate auto tariffs by the U.S. is expected to impact $460 billion of vehicle imports

** Foreign carmakers have been losing market share to local rivals in China

(Reporting by Aishwarya Jain in Bengaluru)

((Aishwarya.Jain@thomsonreuters.com;))