Car maker Stellantis says US tariffs have cost it €300m
Summary
Stellantis, a large car company, says US tariffs have cost it €300 million. The tariffs have led to reduced shipments and lowered sales, affecting global trade and production plans.Key Facts
- Stellantis owns brands like Vauxhall, Jeep, and Fiat.
- US President Donald Trump imposed a 25% tariff on imported cars starting in April.
- Stellantis reported shipments to North America were 25% lower compared to last year, partly due to tariffs.
- The company's total sales dropped by 10% in the first half of the year.
- Stellantis has manufacturing plants in several countries, including the US, UK, and Mexico.
- The company expects €74.3 billion in revenue but forecasts a net loss of €2.3 billion for the first half of the year.
- The UK made a deal with the US to reduce car tariffs to 10% for a limited number of vehicles.
- Other countries are still negotiating with the US over tariffs, with potential further increases threatened by the US.
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