Japanese auto stocks fell sharply after new U.S. tariffs against Mexico, Canada and China raised concerns about their U.S. sales of cars made in the North American trading partners and a further escalation in trade conflicts.

Asian stocks reliant on exports, ranging from Japanese carmakers to Chinese e-commerce firms, nosedived after US President Donald Trump unleashed his first wave of tariffs, signaling the beginning of a new round of global trade war.

By David Alire Garcia and Ana Isabel Martinez MEXICO CITY (Reuters) -Mexican President Claudia Sheinbaum on Saturday ordered retaliatory tariffs in response to the U.S. decision to slap 25% tariffs on all goods coming from Mexico,