Shares of auto giants fell sharply on Monday as U.S. President Donald Trump imposed long-threatened tariffs on goods from Canada, Mexico and China. Analysts expect Trump's tariffs to have a profound impact on the global automotive industry,

Major stock markets in the Gulf fell in early trade on Monday in line with Asian shares, after U.S. President Donald Trump's tariffs on Canada, Mexico and China triggered fears of a broader trade war and a hit to global growth.

The trade war has arrived and stocks are taking it badly. U.S. stock futures were tumbling in sympathy with global markets as investors reckon with the imposition of new U.S. tariffs against Mexico, Canada and China.