US Edition
Tariff Costs Are Starting to Bite US Automakers and Their Customers
UNITED STATES, JUL 22 – Tariffs imposed by the U.S. administration have increased production costs and forced European automakers like Volkswagen and BMW to reconsider pricing and supply strategies, industry sources said.
- In Germany's auto sector, President Donald Trump’s 25% tariffs remain in effect, and wider country-specific duties launch on August 1st.
- Despite their protective goal, the Trump administration claims tariffs will bring supply chains back to the U.S., though they also cause global consequences.
- General Motors reported a more than $1 billion drop in profits, attributing part of the fall to tariffs and warning that worst impacts may still lie ahead.
- Facing higher costs, Volkswagen and BMW consider boosting U.S. production to bypass tariffs.
- Looking ahead, ongoing U.S.-EU negotiations could resolve tariff disputes, while companies invest in R&D to reduce reliance on imported components.
18 Articles
18 Articles
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Tariff costs are starting to bite US automakers and their customers
The largest American automaker is feeling the sting of tariffs.On Tuesday, General Motors reported a more than $1 billion drop in its second quarter profits compared to a year ago.The company attributes the fall in part to tariffs and says the worst impacts may still be ahead.President Donald Trump's 25% tariffs on foreign-made vehicles and some car parts are still in effect, and wider country-specific tariffs are set to begin on August 1st.So f…
The clock is ticking: from 1 August, US tariffs could hit Europe. Chancellor Merz is betting on negotiations, Brussels is preparing counterattacks.
Germany is hoping for a reasonable trade deal with the US, but is also bracing for a shock. Washington insists on a high basic tariff rate for European goods and is reportedly not prepared to lower car tariffs.
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- 69% of the sources are Center
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