Trump's Auto Tariffs Hit Hard: Stellantis' Massive Layoffs

Stellantis NV announced temporary layoffs of 900 workers at five U.S. facilities due to recent tariffs imposed by the U.S. government, including a 25% levy on auto imports. This move has raised concerns among union leaders and affected the company's production in the U.S., Mexico, and Canada.

In response to new tariffs announced by the U.S. government, Stellantis NV has temporarily laid off 900 workers across five American facilities. The tariffs, which include a steep 25% duty on auto imports, have severely impacted the global automotive industry.

The company's decision to halt operations at assembly plants in Canada and Mexico is a direct result of these levies, affecting both local and international production. The announcement caused Stellantis' stock to plummet by 9.3% in New York trading, sparking a ripple effect across other automakers like Ford, General Motors, and Tesla.

Union leaders and company executives are scrambling to address these challenges amidst growing concern over job security. The White House maintains that the tariffs will ultimately benefit American workers, although immediate fallout is evident, with a significant impact on North American interconnectivity within the automotive sector.

(With inputs from agencies.)