President Trump’s auto tariffs have riddled Volkswagen, which said it was hit with a $1.5 billion (1.3 billion euro) profit dent after the onset of the new U.S. trade policies.

Volkswagen said the “decline in Operating Result [is] primarily due to high costs from increased U.S. import tariffs (EUR 1.3 billion), provisions for restructuring at Audi, Volkswagen Passenger Cars, and Cariad (EUR 0.7 billion), and expenses related to CO₂ regulation,”

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