Related: Temu makes a huge dreaded change amid high China tariffs Another badly affected sector was automotive. Big names like Ford, which announced price hikes on its vehicles, were forced to undertake drastic measures to combat the stresses tariffs will place on their manufacturing process.

Nissan unveiled sweeping new cost cuts Tuesday, saying it would eliminate 11,000 more jobs and scale back production, capping a tumultuous year that has left the Japanese automaker fighting to turn itself around.

Ivan Espinosa is mapping a daring route. Nissan Motor’s new CEO, who replaced Makoto Uchida last month, is doubling his predecessor’s planned job cuts and plant closures. Hitting his sales target will be tough in the face of tariffs,

In a recent interview with French business news channel BFM Business, former Nissan CEO and international fugitive Carlos Ghosn described his former employer as a company in “dire straits.” He further stated that he “predicted Nissan ’s decline” and the “demise” of the alliance between it and French automaker Renault.

Nissan Motor unveiled sweeping new cost cuts on Tuesday, saying it would eliminate 11,000 more jobs and scale back production, capping a tumultuous year that has left the Japanese automaker fighting to turn itself around.

Nissan reported a $4.5 billion loss for the financial year. Renault, which owns almost 36% of Nissan, now expects a $2.4 billion hit in Q1.