Price hikes, layoffs and import fees: How car giants are reacting to Trump's tariffs

1. Trump announced 25% tariffs on foreign auto imports impacting the automotive sector. 2. BMW, alongside Volkswagen, saw shares drop approximately 4% following tariff announcements. 3. Production shifts to U.S. factories are being considered by various automakers, including Volvo. 4. Stellantis paused production, leading to temporary layoffs affecting auto industry workers. 5. Volvo plans to increase U.S. production to mitigate impact from new tariffs.