1408 GMT - Stellantis is encouraged by President Trump's signal of a possible reprieve from tariffs on the auto industry, but the sector remains at risk in the United States and Europe, says Chairman John Elkann. Speaking during Stellantis' general meeting Tuesday, Elkann says the carmaker is affected not only by a 25% tariff imposed on imported vehicles to the U.S., but also by additional compounding tariffs including those placed on aluminum and steel. Elkann says that while the auto market in the U.S. and Europe is under extreme pressure due to regulatory and policy choices, China has its own trajectory. "This year, the Chinese automobile market is set for the first time ever to be larger than the American and European markets combined," he says. Stellantis shares in Milan are up 6.6% at 8.33 euros. (pierre.bertrand@wsj.com)
(END) Dow Jones Newswires
April 15, 2025 10:09 ET (14:09 GMT)
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