Volkswagen takes €1.3bn hit from ‘high costs’ of Trump tariffs
by Lisa O’Carroll from US news | The Guardian on (#6YWKX)
Manufacturer cuts profit margin range for year as German car exports to US fall sharply
The 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...