Azernews.Az

Ulviyya Poladova

Read more

European car manufacturers have suffered losses exceeding €8 billion due to tariffs introduced under the administration of President Donald Trump, AzerNEWS reports, citing Financial Times.

The analysis is based on public statements from senior executives at major automakers including Volkswagen, BMW, Mercedes-Benz, Stellantis, and Volvo Cars, all of which reported significant financial pressure linked to U.S. trade measures.

BMW lost approximately €2.1 billion, Mercedes-Benz €1.3 billion, and Stellantis suffered losses of approximately €1.2 billion.

In April last year, the United States raised tariffs on European-made vehicles from 2.5% to 27.5%. Although a trade agreement reached in August reduced the rate to 15%, companies continued to report substantial losses due to earlier disruptions and ongoing market uncertainty.

On May 1, 2026, U.S. President Donald Trump accused Brussels of failing to comply with the trade deal and threatened to raise tariffs on cars and trucks imported from the European Union to 25%.

The European Commission has responded by claiming that they intend on keeping their options open in order to protect the interests of the EU. The Commission said that the EU was adhering to its commitments.

Image: Angel Garcia / Bloomberg