German automakers, such as Volkswagen and Mercedes-Benz, are feeling the impact of U.S. tariffs with profits falling due to a 15% tariff burden. Volkswagen anticipates a 5 billion euro loss this year, while Mercedes reported a 70% decline in EBIT to 750 million euros. Audi Group lowered its operating margin expectations.

Read more at Yahoo Finance: Another European car company gets knocked out by tariffs