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BERLIN, Nov 27 (Reuters) – Europe's auto stocks dragged their stock market losses on Tuesday after a German magazine published an article that said US President Donald Trump could announce new tariffs as early as next week. on cars imported to the United States.
According to the weekly Wirtschaftswoche, citing sources in the European Union, the US administration could impose tariffs of 25% on car imports from all countries except Canada and Canada. Mexico.
A Commerce Department report is on the US President's desk, which could make announcements after the G20, this weekend in Buenos Aires, according to sources cited by the magazine.
The White House and the European Commission have not responded immediately to a request for comment on the subject.
On the stock market, the Stoxx index of the European automotive sector lost 2.78% at 15:35 GMT, the largest sectoral decline in Europe. In Frankfurt, Volkswagen sold 4.53%, Daimler 2.5% and BMW 1.88%.
In Paris at the same time, Renault fell by 1.43% and PSA by 1.71%. Equipment manufacturers Valeo, Faurecia, Plastic Omnium and Michelin recorded declines of 4% to 6%.
Michelle Martin in Berlin, Ludwig Burger in Frankfurt, Philip
Blenkinsop in Brussels, Helen Reid in London and Jeff Mason in
Washington; Marc Angrand for French service
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