Auto Shares Plunge on Trump Election Win

The recent U.S. election has had massive economic repercussions worldwide. Some auto industry experts believe that Korea’s car industry will suffer the most under the new administration, as talks of imposing import taxes on foreign-made cars have raised concerns among auto manufacturers.

PVMI member Ki-Chan Kim of the Catholic University of Korea notes that “the impact will be huge” for manufacturers such as Hyundai and Kia, who have had to outsource manufacturing to Mexico in order to keep costs down and stay competitive.

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