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Investors fretted over U.S. President Donald Trump's tariffs on cars and certain auto parts not made in the country, sending Asian auto stocks down for a second day. The new tariffs will take effect on April 2, and will target imported passenger vehicles and light trucks, as well as key automobile parts including engines and transmissions, the White House said.

President Trump announced new 25% tariffs on auto imports, impacting foreign automakers and potentially leading to retaliatory tariffs from countries like Japan, Canada, and the EU. US automakers like GM and Ford may see limited direct impact, but global free trade and the overall economy could suffer from escalating trade tensions. Companies with US production, like Toyota and BMW, will be les...

For Japan and South Korea, tariffs announced by U.S. President Donald Trump represent a blow to domestic car industries that are both economic pillars and sources of national pride.

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.

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

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.