As of August 1, 2025, new 30% tariffs on imports from the European Union to the U.S. have come into effect. These changes have already led to significant financial losses for many European companies.
Automakers and Their Losses
Automakers like Volkswagen are facing serious losses. As of the first half of the year, Volkswagen has already lost €1.3 billion due to additional costs, leading to a slump in second-quarter operating profit and a revision of year-end forecasts. The company plans to start manufacturing Audi cars in the U.S. to minimize the impact of the tariffs.
"There is high uncertainty about further developments regarding the tariffs," according to Volkswagen's financial report.
Other Sectors Under Tariff Pressure
Stellantis, the parent company of Dodge and Fiat, released early financial results, reporting a €2.3 billion loss for the first half of the year due to tariffs and lost production. Volvo Cars and Puma also reported significant drops in profit in the second quarter, attributed to the negative impacts of U.S. trade policy.
Long-term Forecasts and Consequences
Nokia has lowered its profit outlook, now expecting an operating profit range of €1.6 billion to €2.1 billion, down from previous estimates. Traton revised its forecasts for truck sales in North America, anticipating significant declines. The forecasts are based on current tariffs and potential increases to 50% on Brazilian goods and 30% on EU imports.
The introduction of new tariffs on EU imports is putting significant pressure on various sectors, leading to revised financial forecasts and losses that may have long-term consequences.
