World

Porsche, Mercedes face $3.7bn hit as Trump imposes 25% tariff

Porsche AG and Mercedes-Benz Group AG are expected to be the hardest hit by President Donald Trump’s new 25% tariff on imported cars, set to take effect on April 3, 2025. The additional duties could cost the automakers around €3.4 billion ($3.7 billion), significantly impacting their projected 2026 earnings, according to Bloomberg. To counter the […]