European automakers including BMW and Mercedes-Benz are set to gain €4 billion from a new EU-U.S. trade agreement that lowers tariffs on vehicle exports. The move offers relief in a key market but still leaves duties higher than pre-2024 levels.
BMW, Mercedes-Benz and other European carmakers are expected to benefit by up to €4 billion ($4.7 billion) following a trade deal between the European Union and the United States, according to Bloomberg Intelligence.
The agreement reduces tariffs on car imports from the EU to 15%, down from 27.5%.
The deal brings clarity to a vital export market for major automakers such as Mercedes, BMW, Porsche and Volvo. The companies had previously warned that steep tariffs imposed by the Trump administration in April would increase supply-chain costs and disrupt financial forecasts.
BMW and Mercedes, which export around 185,000 vehicles annually from their U.S. plants, will also benefit from tariff exemptions, according to Bloomberg Intelligence analyst Michael Dean.
Auto stocks across Europe rose on Monday following the announcement.
“It’s the best result out of what was looking like a bad situation,” said auto analyst Matthias Schmidt, noting that German and Swedish executives will be relieved.
However, industry groups voiced concern that the new 15% tariff remains significantly higher than the 2.5% rate that existed before the recent trade tensions. Germany’s VCI chemical-industry association, which includes suppliers to carmakers such as BASF, warned that elevated tariffs could erode the competitiveness of European exports.
“If you’re bracing for a hurricane, you’re grateful for a storm,” said VCI President Wolfgang Große Entrup. “Nevertheless, the agreed tariffs are too high.”
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Tensions in the region remained high on Tuesday (10 March), as the United States and Iran exchanged increasingly sharp warnings, including threats over the strategic Strait of Hormuz, a critical artery for global oil supplies.
Iran and the U.S. exchanged threats on Tuesday, as U.S. Defense Secretary Pete Hegseth warned Tehran to expect the “most intense day" of attacks so far. Meanwhile, Iranian President Masoud Pezeshkian said “anyone who entertains the illusion of destroying Iran knows nothing of history."
The Strait of Hormuz has become a focal point of global concern as tensions rise following the conflict involving Iran, the United States and Israel. Tehran has threatened to block the strategic waterway, raising fears of disruption to global oil shipments and energy markets.
Reports of so-called “acid clouds” moving from Iran towards Central Asia are not supported by scientific data, national hydrometeorological services in Kazakhstan, Uzbekistan and Kyrgyzstan say, adding there is no threat to the region.
Tensions in the region remained high on Tuesday (10 March), as the United States and Iran exchanged increasingly sharp warnings, including threats over the strategic Strait of Hormuz, a critical artery for global oil supplies.
Global oil prices surpassed $119 a barrel on Monday (9 March, 2026), an almost four year high, as the Middle East conflict rumbled on.
China has urged Afghanistan and Pakistan to resolve their dispute through dialogue after Chinese envoy Yue Xiaoyong met Afghan Foreign Minister Amir Khan Muttaqi, as fighting between the two neighbours entered its eleventh day.
Entry and exit across the state border between Azerbaijan and Iran for all types of cargo vehicles, including those in transit, will resume on 9 March, according to a statement by the Cabinet of Ministers of Azerbaijan.
Iran named Mojtaba Khamenei to succeed his father Ali Khamenei as supreme leader on Monday (9 March), signaling that hardliners remain firmly in charge, as the week-old U.S.-Israeli war with Iran pushed oil above $100 a barrel.
China has raised the retail prices of petrol and diesel after global oil prices climbed sharply. The country’s top economic planning body, the National Development and Reform Commission (NDRC), announced the move after reviewing international oil market trends.
Global financial markets remained on edge on Friday as the escalating war involving the United States, Israel and Iran continued to rattle investors, fuelling volatility in stocks and sending energy prices sharply higher.
China’s top leadership has unveiled a new push to turn advanced technologies into large-scale industrial priorities as part of the country’s upcoming 15th Five-Year Plan, which will guide economic and social development from 2026 to 2030.
The European Commission sees no immediate impact on the European Union's security of oil supply from the escalating conflict in the Middle East, it said in an email to EU governments, seen by Reuters on Monday (2 March).
Paramount Skydance emerged as the winner in a months-long battle to acquire Warner Bros Discovery after streaming giant Netflix on Thursday refused to raise its bid for the storied Hollywood studio.
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