Europe’s Vehicle Makers Feel US Tariff Pain

European vehicle makers are feeling the pain of President Donald Trump’s trade policies. Volkswagen sold fewer of its most profitable cars in the second quarter as US tariffs cut into deliveries of its premium brands Porsche, Audi, Lamborghini and Bentley.

Meanwhile, Daimler Truck expects US orders to remain at “extremely” low levels until uncertainty over Trump’s policies subsides and freight volumes begin to recover, Chief Financial Officer Eva Scherer told us. Logistics companies have cut back on truck purchases amid a drop in shipments of tariff-hit goods such as steel and aluminum.