Donald Trump’s pledge to hit Mexico, Canada, and China with new tariffs rattled global markets and sparked concern among the targeted countries.

Shares of General Motors Co. and Ford Motor Co. were selling off Tuesday, as president-elect Donald Trump’s new tariff threat fueled concerns that a “meaningful” number of auto sales will be lost. Late Monday,

Nearly every major automaker operating in the U.S. has factories in Mexico, however GM and Stellantis produce highly profitable full-size pickup trucks there.