Daimler Truck shares fell as much as 4.9% in Frankfurt, while Traton’s stock dropped 3.1%. Shares of Sweden’s Volvo AB — which makes Volvo and Mack trucks locally — rose as much as 3.45% in Stockholm. The U.S. is Daimler Truck’s largest market, where the company generates about 40% of its global sales with brands such as Western Star, Thomas Built Buses and Freightliner. Daimler Truck operates plants in North Carolina and Oregon but also ships in vehicles from Mexico, exposing it to potential cross-border disruptions sparked by tariffs. Traton had seen deliveries and orders slump on tariff uncertainty in the U.S. even before Trump’s announcement.