** Shares of electric vehicle makers fall premarket after U.S. President Donald Trump imposed baseline 10% tariffs on most imports into the United States
** Rivian RIVN.O and Tesla TSLA.O fall ~3% each, Lucid LCID.O slumps 5%
** The base tariffs go into effect on April 5, while higher reciprocal tariffs on major trading partners on April 9
** Trump's 25% auto tariffs took effect on Thursday and said the 25% duties on auto parts would kick in on May 3
** EV firm executives including Tesla's Elon Musk had flagged that higher duties could affect the price of parts and result in higher costs for the companies
** Up to last close, TSLA down ~30%, LCID down 20%, RIVN down ~6% YTD
(Reporting by Zaheer Kachwala in Bengaluru)
((Zaheer.Kachwala@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.