VW CEO Says Tariffs Hit Profit by 5.88 Billion Dollars
Volkswagen CEO Oliver Blume says tariffs cost the group 5 billion euros in annual profit. He did not specify if this includes recently threatened U.S. hikes.
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VOLKSWAGEN AG faces a €5 billion ($5.88 billion) annual hit to operating profit from global trade tariffs. The figure represents a recurring burden on earnings as trade tensions escalate. CEO Oliver Blume disclosed the impact at an industry event in Barcelona.
