Volkswagen takes €1.3bn hit from ‘high costs’ of Trump tariffs

Manufacturer cuts profit margin range for year as German car exports to US fall sharplyBusiness live -latest updatesThe German car manufacturer Volkswagen has said Donald Trump’s US import tariffs have cost it more than £1bn in the first half of the year.Volkswagen said it had made strong progress realigning the company, which is considering cutting 35,000 jobs by 2030, but that it had suffered a €1.3bn (£1.13bn) “decline in operating result primarily due to high costs from increased US import tariffs”. Continue reading...

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