Key Takeaways US car manufacturers' stocks took a hit in Thursday morning trading as auto-specific tariffs went into effect.That included shares of Tesla and other US-based EV makers. The former's stock was recently off some 5%.

Prime Minister Mark Carney said Thursday that Canada will match U.S. President Donald Trump’s 25% auto tariffs with a tariff on vehicles imported from the United States. Trump's previously announced 25% tariffs on auto imports took effect Thursday.

The president said he would go ahead with auto tariffs industry officials say could decimate Michigan's signature industry, as well as other taxes.

If you want to buy a new or used vehicle in Mississippi, now is the time. That is the word from Marty Milstead, president of the Mississippi Automobile Dealers Association. President Donald Trump said his new tariffs on automobiles and auto parts will punish other countries for unfair trade practices.

Trump confirms the 25% tariffs on auto imports will go live at midnight. Read more about those below. Ford stock is getting hit. So are General Motors and Stellantis. Tesla, which won't be hit as badly, trades higher.

The array of automotive parts that President Trump plans to tariff is more extensive than the industry expected, raising concerns about significant cost increases for U.S.-built vehicles. As part of Trump’s tariff announcement Wednesday,

Stellantis has responded to the imposition of a 25% auto tariff with the temporary layoff of thousands of Unifor Local 444 members at Windsor Assembly Plant and additional layoffs in Mexico and at U.S.

One manufacturer told NBC News that she had managed to push the existing 45% duty on her products onto American customers.

Ford is offering employee pricing on most vehicles through June 2. The promotion comes as 25% auto tariffs go into effect, threatening to dramatically increase the price of competitor vehicles. Some cars and trucks,