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.
Iranian President Masoud Pezeshkian stated on Friday that while Iran seeks peace, it will not be pressured into abandoning its nuclear and missile pro...
Explosions at a mosque in Jakarta, Indonesia, during Friday prayers have left dozens injured, with officials suggesting it could have been an attack. ...
Four people have died and three others have been injured after a helicopter crashed into a home in Dagestan, Russia on Friday....
Hundreds of flights were delayed at Delhi airport, one of the busiest in the world, after a technical issue with an air traffic control messaging syst...
Nearly 100 individuals have been recorded as abducted or missing in Syria since the start of the year, with reports of ongoing enforced disappearances...
President Donald Trump announced on Saturday plans to impose an extra 10% tariff on Canadian imports following a television advertisement aired by Ontario that used edited clips of former President Ronald Reagan to criticise U.S. tariffs.
U.S. President Donald Trump has accused China of deliberately cutting back purchases of American soybeans and warned of retaliatory measures targeting cooking oil and other trade sectors.
South Korea’s used car industry is experiencing record growth this year, with surging exports helping cushion the impact of steep U.S. tariffs on new vehicles.
Bangladesh’s interim leader, Muhammad Yunus, said the country will expand imports from the U.S. to further reduce tariffs on Bangladeshi goods, particularly textiles.
The Champions League match between Qarabağ FK and Chelsea ended 2–2 at the Tofig Bahramov Republican Stadium in Baku, Azerbaijan on Wednesday (5 November).
More than 10,000 supporters of Serbian President Aleksandar Vucic rallied in Belgrade on Wednesday to show their backing for the populist leader’s policies, following a year of anti-government demonstrations.
Dutch smartphone maker Fairphone is entering the U.S. market, betting on growing demand for repairable and sustainable devices as right-to-repair legislation gains traction, according to Reuters.
U.S. President Donald Trump personally urged Chinese leader Xi Jinping to release imprisoned Hong Kong media tycoon Jimmy Lai during their meeting in South Korea last week, according to three individuals briefed on the discussions and a U.S. administration official.
U.S. Senate Republicans have blocked a resolution that would have barred President Donald Trump from launching military action against Venezuela without congressional approval, despite growing concern over recent U.S. strikes in the southern Caribbean.
Despite promises of recovery from the new government, Germany’s economy continues to stagnate, with no signs of renewed momentum. According to the latest report from the German Chamber of Industry and Commerce (DIHK), the country still lacks the drive needed for a genuine economic rebound.
Türkiye’s benchmark BIST 100 index ended Thursday up 0.94%, closing at 11,073.27 points. Opening the day at 11,029.29, the index gained 102.9 points compared with the previous close.
Dutch smartphone maker Fairphone is entering the U.S. market, betting on growing demand for repairable and sustainable devices as right-to-repair legislation gains traction, according to Reuters.
Premier Li Qiang said on Wednesday that China's economy will exceed 170 trillion yuan ($23.87 trillion) by 2030, presenting a big market opportunity for the world as trade restrictions rise globally.
Jamaican Prime Minister Andrew Holness on Tuesday said that last week's Hurricane Melissa, the strongest-ever storm to hit its shores, caused damage to homes and key infrastructure roughly equivalent to 28% to 32% of last year's gross domestic product.
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