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,

Mexico said it would slap tit-for-tat tariffs on the US, while China said Trump's finger-pointing "runs completely counter to facts".

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.