BMW expects a €1 billion loss for 2025 due to the US-EU tariff dispute, including a 25% duty on certain vehicles and tariffs on its China-made electric cars. The company hopes not all tariffs will remain for the full year.
BMW has stated that it expects tariffs to result in a 1 billion euro ($1.09 billion) hit to its earnings for 2025. The company’s forecast comes amid a trade dispute between the U.S. and the European Union, which has seen increased tariffs on steel, aluminium, and some vehicles from Mexico, including BMW’s cars.
U.S. President Trump has imposed a 25% duty on certain vehicle imports from Mexico and threatened additional tariffs on the EU, which he has described as "hostile and abusive." In response, the EU has pledged to retaliate but continues to call for dialogue to resolve the issue.
BMW’s CEO, Oliver Zipse, mentioned that the company’s estimate is "conservative," though executives do not expect all tariffs to remain in place for the entire year. The company reported a 37% drop in profits last year, partly due to the impact of tariffs and duties on its business.
Meanwhile, French Finance Minister Eric Lombard expressed concerns that a trade war between the EU and the U.S. would negatively impact both economies, describing it as "idiotic." The EU’s trade chief, Maros Sefcovic, is scheduled to speak with U.S. officials about the ongoing tariff conflict.
The trade tensions are already affecting global economic growth, with firms and consumers delaying investments due to the uncertainty surrounding the future of the tariffs.
The US trade deficit reached a record $140.5 billion (€123.6 billion) in March, driven by a surge in imports, particularly pharmaceuticals, as businesses stockpiled to offset potential tariff impacts.
Malaysia’s parliament held a special session on Monday to discuss the impact of tariffs imposed by the United States, as the government considers potential economic repercussions and policy responses.
The Philippines faces the lightest blow from Washington’s new tariff regime—just 17 % on average and with a third of its exports exempt—positioning Manila to lure trade and investment diverted from harder-hit neighbours, a Philippine Institute for Development Studies report says.
The Trump administration is considering reducing tariffs on Chinese imports, aiming to ease tensions with Beijing as trade negotiations continue, a source familiar with the matter said on Wednesday.
Cambodia welcomed Chinese President Xi Jinping for a state visit, as the two countries explored opportunities for expanded cooperation against the backdrop of shifting global trade conditions.
The United States has quietly approved a Qatari initiative to finance salaries for Syrian public-sector workers, marking a significant shift in Western engagement with post-Assad Syria, according to three sources familiar with the matter.
U.S. President Donald Trump on Wednesday called for an immediate end to the escalating hostilities between India and Pakistan, saying he “hopes they can stop now” after a series of deadly cross‑border strikes.
The U.S. Federal Reserve kept its benchmark federal funds rate unchanged on Wednesday, maintaining the target range at 4.25% to 4.50%, in a widely expected move as the central bank navigates a complex economic environment marked by slowing inflation, global trade tensions, and political pressure.
U.S. President Donald Trump said Wednesday that an announcement related to the Gaza Strip is likely within the next 24 hours, signaling potential developments in the U.S. approach to the worsening humanitarian crisis in the besieged enclave.
A Rafale fighter jet operated by the Indian Air Force has reportedly been shot down for the first time in combat, according to sources cited by CNN, marking a significant and symbolic development in the ongoing escalation between India and Pakistan.
India has fired a series of missiles into Pakistani-controlled territory, in what it has described as “Operation Sindoor”
ChatGPT has rapidly emerged as one of the most influential artificial intelligence tools, transforming how we interact with technology through natural language.
Discover every major VE Day 80 event in Britain, 5‑8 May 2025—from London’s parade and fly‑past to street parties, concerts and museum exhibitions.
New Tesla registrations in Denmark collapsed 67 % in April to 180 vehicles, industry data showed Thursday, underscoring a sharp demand drop for the EV maker in one of its once-strong European markets.
Chinese e-commerce platform Temu has announced it will no longer sell goods directly from China to U.S. customers, shifting instead to U.S.-based sellers amid the closure of a long-criticized customs loophole.
The U.S. Federal Reserve kept its benchmark federal funds rate unchanged on Wednesday, maintaining the target range at 4.25% to 4.50%, in a widely expected move as the central bank navigates a complex economic environment marked by slowing inflation, global trade tensions, and political pressure.
Ford is raising prices on three of its Mexico-made models starting May 2, becoming one of the first major automakers to react to U.S. President Donald Trump's steep auto tariffs, which are reshaping industry costs and consumer prices.
As European NATO countries rush to strengthen their armed forces, large pension bills threaten to divert funds from urgently needed military hardware.
The European Commission has presented a roadmap to ensure the EU fully ends its dependency on Russian energy, while ensuring stable energy supplies and prices across the EU.
Uber said it would buy a majority 85% stake in Turkish food and grocery delivery platform Trendyol Go for $700 million, as the ride-hailing giant looks to tap new growth markets amid signs of saturation in its mainstay North American business.
The United States has quietly approved a Qatari initiative to finance salaries for Syrian public-sector workers, marking a significant shift in Western engagement with post-Assad Syria, according to three sources familiar with the matter.
U.S. President Donald Trump on Wednesday called for an immediate end to the escalating hostilities between India and Pakistan, saying he “hopes they can stop now” after a series of deadly cross‑border strikes.
The U.S. Federal Reserve kept its benchmark federal funds rate unchanged on Wednesday, maintaining the target range at 4.25% to 4.50%, in a widely expected move as the central bank navigates a complex economic environment marked by slowing inflation, global trade tensions, and political pressure.
U.S. President Donald Trump said Wednesday that an announcement related to the Gaza Strip is likely within the next 24 hours, signaling potential developments in the U.S. approach to the worsening humanitarian crisis in the besieged enclave.
A Rafale fighter jet operated by the Indian Air Force has reportedly been shot down for the first time in combat, according to sources cited by CNN, marking a significant and symbolic development in the ongoing escalation between India and Pakistan.
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