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.
Here's your AnewZ Daily Brief for 28 October 2026, exploring five election stories shaping world politics, from leadership struggles in Israel ...
A knife-wielding attacker was shot dead by a police officer outside Israel’s embassy in Belgrade after wounding the officer, prompting Serbia...
The cost of the U.S. war in Iran has climbed above $47 billion, according to Pentagon data obtained by Reuters, as spending on munitions, equipment...
Russia and Ukraine have begun a regional ceasefire to allow the start of a humanitarian effort in the Russian-occupied town of Oleshky, both sides said on Tuesday, but they continue strikes elsewhere, including the Ukrainian capital of Kyiv.
Israel's election appeared headed for a prolonged political standoff on Tuesday after exit polls suggested neither Prime Minister Benjamin Netanyahu nor his main challenger, former military chief Gadi Eisenkot, had secured a clear path to a parliamentary majority.
Serbia's Aleksandar Vučić has conceded defeat after a student-led protest movement took the majority of seats in Sunday's parliamentary elections.
Russian strikes hit several parts of Ukraine overnight, injuring at least six people and targeting energy and port infrastructure, as President Volodymyr Zelenskyy said U.S. warnings about imminent Russian ballistic missile attacks had resumed.
Nearly two years after the 20 October 2024 parliamentary elections, Iraq’s Kurdistan Region remains without a cabinet. The Kurdistan Democratic Party (KDP) won 39 of 100 seats and the Patriotic Union of Kurdistan (PUK) 23, leaving neither able to govern alone.
Apple's latest iPhone 18 Pro series has outperformed its predecessor in early global sales, even as rising manufacturing costs and weaker demand in some markets put pressure on the smartphone industry, according to Counterpoint Research data released on Tuesday (27 October).
Uzbekistan is moving into a new phase in the development of Islamic finance, with the country’s first Islamic banking licence issued shortly before a regional forum in Samarkand brought together industry players to discuss how the sector can expand across Central Asia.
The European Union is pushing to deepen trade ties with Asia as rising global trade barriers threaten international commerce, German Chancellor Friedrich Merz said during a visit to Singapore on Tuesday (27 October).
As Israelis head to the polls on Tuesday, 27 October, the Israeli economy faces a paradox; soaring stocks and a stronger currency alongside rising public debt and billions of dollars in war costs. What do the figures reveal about the challenges awaiting the next government?
Russia's President Vladimir Putin is hosting the Eighth Gas Exporting Countries Forum (GECF) summit in Moscow. The Kremlin has said leaders will discuss the role of gas in global energy security and adopt a final declaration.
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