Move would create yet another challenge for European carmakers already struggling with falling sales and profits
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German carmakers’ share prices have slumped amid fears Donald Trump will impose steep tariffs on the industry after winning the US presidency for the second time.
BMW shares fell by 7%, Mercedes-Benz by 6% and Volkswagen and Porsche by 5% as investors scrambled to adjust to Trump’s victory. The four firms were the biggest fallers on Germany’s DAX stock market index on Wednesday.
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