U.S. President-elect Donald Trump's plan to slap a 25% tax on all imports from Mexico and Canada could strike the bottom lines of U.S. automakers, especially General Motors , and raise prices of SUVs and pickup trucks for U.

The threat to put tariffs on all imports from Mexico and Canada sent GM shares lower and stoked fears such a move could impact profit margins.

Both European and American companies are expected to lose out if President-elect Trump imposes duties on imported vehicles

Carmakers in the U.S. and Europe could lose up to 17 percent of their combined annual core profits in a worst-case scenario if the U.S. imposes steep tariffs on Europe and the key U.S. allies of Mexico and Canada,