Volkswagen CEO Oliver Blume said the German carmaker is close to a tariff deal with the US, aiming to ease the impact of Trump-era tariffs that have cost the company “several billions.” While tariffs on European cars are set to drop from 27.5% to 15%, Blume called even the reduced rate a burden and highlighted Volkswagen’s planned US investments to secure a better deal.
Porsche, sold almost entirely from Germany, is especially affected by tariffs and a weak Chinese market. Blume also showcased a new affordable electric vehicle concept targeting a fifth of Europe’s compact EV market.
BMW plans a Chinese-made iX3 for 2026, tailored to local preferences. Trump’s trade war has caused industry-wide disruption, with UK brands Lotus and Jaguar Land Rover cutting hundreds of jobs due in part to tariff uncertainty.
