Donald Trump's pledge to slap tariffs on imports to the U.S. from Mexico could be more damaging for European car makers like Volkswagen and Stellantis and their suppliers than any direct tariffs on EU goods,

At a conference in Paris, corporate chiefs, finance ministers and top politicians called for a “Europe First” policy to counter Donald Trump’s protectionist agenda.

European countries could be among those hardest hit if Trump follows through on tariffs. The European Union says it wants to negotiate but is prepared to retaliate.