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2025-08-01 06:59:41
[Trade agreement disputes continue, costs are shifted to the United States, and European car companies collectively take stock of the heavy blows of tariffs] When US President Trump's tariff stick hits the European auto industry, the once glorious German luxury car companies are collectively falling into a cold winter of plummeting profits. The latest financial data shows that European auto giants such as Mercedes-Benz, Porsche, and Audi have suffered a cliff-like decline in performance in the first half of the year. This trade storm caused by US unilateralism has already made European manufacturing feel a heavy impact. Although the United States and the European Union reached a trade agreement on July 27, leaders of many European business organizations, including the automotive industry, condemned the damage caused by the new agreement to the EU economy. According to Reuters on July 31, some European luxury car manufacturers, including Porsche and Aston Martin, have raised the prices of their products in the US market, which may pave the way for other major brands to follow suit. European car companies have begun to pass on the tariff costs to American consumers.
