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Trump Tariffs on Foreign Cars Will Be Cut in Summer, BMW Boss Predicts
The Guardian
|May 08, 2025
The boss of BMW predicted yesterday that Donald Trump's tariffs on foreign car imports would be lowered this summer, as the German carmaker reported its profits for the first quarter had tumbled by a quarter.
Oliver Zipse, BMW's chief executive, said he expected Trump's 25% tariffs on foreign cars would be dropped by July.
He made the prediction after BMW reported a 25% drop in profit for the first quarter of the year to €3.1bn (£2.6bn) as it braced for the effects of Trump's trade war and strong competition from China.
In March, the carmaker said tariffs imposed by the US, the EU and China could cost it €1bn this year. EU tariffs on Chinese electric car imports in response to state aid from Beijing cost BMW more than €100m in the first quarter, it said yesterday.
Dit verhaal komt uit de May 08, 2025-editie van The Guardian.
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