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Dan Ives, senior equity research analyst at Wedbush Securities, says auto tariffs unveiled by President Donald Trump would be a "gut punch" to Detroit as he examines the potential impact on General Motors, Ford, and Stellantis, as well as Tesla.
Trump's 25% auto tariff shook markets, hitting stocks and sparking fears of a global trade war. UAW backed the move, while Tesla and foreign automakers warned of higher costs and job risks.
Dan Levy, Barclays senior equity research analyst, joins 'Squawk Box' to discuss President Trump's 25% tariff on all cars and trucks manufactured outside the U.S., impact on the auto industry, and more.
Mary Lovely, Senior Fellow at the Peterson Institute for International Economics, shares her thoughts on what to expect from President Trump as he is set to announce new auto tariffs. Mary talks about how these new auto tariffs could work in conjunction with the tariffs President Trump has already announced, and if Europe will retaliate and place tariffs on US products.
Tesla stock was rising in premarket trading Thursday, which looked set to be a bad day for the autos sector.
What matters in U.S. and global markets today
Sarah Bianchi, Evercore ISI public policy chief strategist, joins 'Squawk Box' to discuss President Trump's new auto tariffs, what to expect from the rest of Trump's tariff agenda, impact of policy uncertainty, how the world is responding to President Trump, and more.
Sevasti Balafas, CEO of GoalVest Advisory, discussed auto tariffs, recession risks, and market sentiment. She emphasized diversification and recommended Progressive Insurance as a defensive stock.
Tesla TSLA-5.58% stock was falling in early trading on Thursday—which looks set to be a bad day for the autos sector.
Crude oil prices edge higher as U.S. auto tariffs and falling inventories tighten supply. Market eyes key resistance levels for WTI and Brent crude.