TOKYO — Global shares mostly sagged Thursday, after President Donald Trump announced he will slap 25% tariffs on imported cars.

Trump said he was raising duties on auto imports to encourage more manufacturing in the U.S., but the impact will be complicated since U.S. automakers and even foreign manufacturers with factories in the U.S. source many of their components from around the world.

In pre-market trading early Thursday, General Motors Co.’s shares sank 6.5%, while Ford Motor Co. lost 3%.

France’s CAC 40 declined 0.6% in early trading to 7,982.08, while Germany’s DAX fell 0.8% to 22,661.50. Britain’s FTSE 100 dipped 0.7% to 8,632.12.

The future for the S&P 500 was up 0.1% while that for the Dow Jones Industrial Average gained 0.2%.

In Asian trading, Japan’s benchmark Nikkei 225 lost 0.6% to finish at 37,799.97. Shares of automakers took big hits.

Toyota Motor Corp.’s stock fell 2%, while Honda Motor Co. stock dipped 2.5%. Nissan was down 1.7%. Mazda Motor Corp.’s shares dropped 6%, while Subaru’s lost nearly 5%. Mitsubishi Motors Corp. lost 3.2%.

Japanese Prime Minister Shigeru Ishiba has sought to persuade Trump to exempt Japan from the higher tariffs, and he reiterated his position Thursday.

”We strongly request that tariff measures not be applied to Japan,” he told reporters.

When asked about possible responses, he said without giving specifics: “All options are naturally subject to consideration.“

Ivan Espinosa, who will become chief executive at Nissan Motor Corp. April 1, told reporters earlier this week that the automaker was considering several scenarios as what Trump might do was “fluid.”

Toyota declined comment.

South Korea’s Kospi fell 1.4% to 2,607.15. Korean automakers also felt a chill from Trump’s announcement. Hyundai Motor Co.’s shares traded in Seoul lost 4.3% while Kia Corp.’s shares dropped 3.5%.

Shares in Greater China, apart from Taiwan, were higher. Hong Kong’s Hang Seng gained 0.4% to 23,578.80, while the Shanghai Composite index was up 0.2% at 3,373.75.

Chinese automakers and parts manufacturers have been expanding sales around the world, but not in the United States, so any impact from the tariffs announcement would be an indirect one.

But Taiwan’s benchmark, the Taiex, sank 1.4%. In Australia, the S&P/ASX 200 dropped 0.4% to 7,969.00.

Trade tensions are likely to heighten in coming weeks, analysts said.

“Higher trade barriers may disrupt supply chains and slow growth. Auto, metals, pharma and technology face a direct hit from U.S. tariffs,” said Eunice Tan, head of Asia-Pacific credit research at S&P Global Ratings.

“Fears of a sharper global downturn could hit demand and confidence, squeezing the region’s downstream and consumer discretionary sectors.”

On Wednesday, the S&P 500 sank 1.1%, while the Dow industrials shed 0.3%. Weakness for Big Tech sent the Nasdaq composite to a market-leading drop of 2%, at 17,889.01.

Some U.S. automakers declined after Trump said he would announce his tariffs on auto imports.

U.S. auto giants have already spread their production around North America following prior free-trade deals encompassing the United States, Canada and Mexico.

In other dealings early Thursday, benchmark U.S. crude lost 15 cents to $69.50 a barrel. Brent crude, the international standard, fell 17 cents to $72.89 a barrel.

In currency trading, the U.S. dollar rose to 150.87 Japanese yen from 150.54 yen. The euro cost $1.0765, up from $1.0754.

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AP Videographer Ayaka McGill contributed.