Volkswagen Takes 1.3-bn-euro Hit From Trump Tariffs

The 10-brand group cut its revenue and profit outlook, warning of 'political uncertainty and increased barriers to trade' for the remainder of the year (Credit: AFP)

German auto giant Volkswagen said Friday that tariffs imposed by US President Donald Trump had cost it 1.3 billion euros in the first half of the year as it reported falling profit.

Overall net profit fell 38.5 percent year-on-year during the period to hit 7.28 billion euros ($8.54 billion).