President-elect Donald Trump has long touted tariffs as a tool to help the U.S. get better deals from trading partners. Consumers and corporate purchasers pay these taxes on imported goods and the higher prices make companies (and countries) exporting to the U.

The threat to put tariffs on all imports from Mexico and Canada sent GM shares lower and stoked fears such a move could impact profit margins.

Donald Trump's proposed tariffs could raise car prices, impacting US and European automakers such as General Motors, Volvo, and Jaguar Land Rover.

Both European and American companies are expected to lose out if President-elect Trump imposes duties on imported vehicles