US automaker stocks fall after Trump announces Canada tariff hike

US automaker stocks declined following President Trump's announcement of increased tariffs on Canada. Trade negotiations between the two nations collapsed, leading to an escalation in the tariff war. Consequently, the US implemented a new 50% tax on hundreds of Canadian imports starting Saturday. Affected goods include plastics, furniture, electrical equipment, and plywood. Brian Gardner, chief Washington policy strategist at Stifel, discussed these developments on Bloomberg Television, highlighting the significant impact of the failed trade talks.