Major corporations have already begun announcing layoffs on Thursday as President Donald Trump’s sweeping new tariff structure is set to take effect.
What To Know: One of the Big Three automakers, Stellantis N.V. (NYSE:STLA), said on Thursday that it will be temporarily laying off 900 workers and pausing production at one assembly plant each in Mexico and Canada.
The move comes after a 25% tariff on all imported vehicles and auto parts went into effect on Thursday. Meanwhile, President Trump introduced a base 10% tariff on all goods coming into the United States and a broad set of reciprocal tariffs targeting several countries on Wednesday.
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According to a Reuters report, Stellantis’ Windsor …