Global stocks paused on Wednesday and currencies were mixed as investors worried over the next potential target for U.S. tariffs under President-elect Donald Trump, a day after he pledged new levies on Canada,

General Motors, Ford and Stellantis shares slid Tuesday after President-elect Trump threatened 25% tariffs on all imports from Canada and Mexico. The move by the new administration would likely stop American car demand in its tracks,

Stocks of GM and Ford took a hit, amid concerns that Trump’s plan for tariffs on imports from Mexico and Canada could cut auto sales more than a million cars.

With a Monday evening promise on Truth Social that his incoming administration will slap 25 percent tariffs on all goods from Canada and Mexico — as well as increasing already existing tariffs on China — Trump sent reporters (and investors,