
-
Outsider Skjelmose in Amstel Gold heist ahead of Pogacar and Evenepoel
-
Arsenal make Liverpool wait for title party, Chelsea beat Fulham
-
Trump slams 'weak' judges as deportation row intensifies
-
Arsenal stroll makes Liverpool wait for title as Ipswich face relegation
-
Sabalenka to face Ostapenko in Stuttgart final
-
Kohli, Padikkal guide Bengaluru to revenge win over Punjab
-
US aid cuts strain response to health crises worldwide: WHO
-
Birthday boy Zverev roars back to form with Munich win
-
Ostapenko eases past Alexandrova into Stuttgart final
-
Zimbabwe on top in first Test after Bangladesh out for 191
-
De Bruyne 'surprised' over Man City exit
-
Frail Pope Francis takes to popemobile to greet Easter crowd
-
Lewandowski injury confirmed in blow to Barca quadruple bid
-
Russia and Ukraine accuse each other of breaching Easter truce
-
Zimbabwe bowl Bangladesh out for 191 in first Test in Sylhet
-
Ukrainians voice scepticism on Easter truce
-
Pope wishes 'Happy Easter' to faithful in appearance at St Peter's Square
-
Sri Lanka police probe photo of Buddha tooth relic
-
Home hero Wu wows Shanghai crowds by charging to China Open win
-
Less Soviet, more inspiring: Kyrgyzstan seeks new anthem
-
Defending champion Kyren Wilson crashes out in first round of World Snooker Championship
-
NASA's oldest active astronaut returns to Earth on 70th birthday
-
Exec linked to Bangkok building collapse arrested
-
Zelensky says Russian attacks ongoing despite Putin's Easter truce
-
Vaibhav Suryavanshi: the 14-year-old whose IPL dream came true
-
Six drowning deaths as huge waves hit Australian coast
-
Ukrainian soldiers' lovers kept waiting as war drags on
-
T'Wolves dominate Lakers, Nuggets edge Clippers as NBA playoffs start
-
Taxes on super rich and tech giants stall under Trump
-
Star Wars series 'Andor' back for final season
-
Neighbours improvise first aid for wounded in besieged Sudan city
-
Tariffs could lift Boeing and Airbus plane prices even higher
-
Analysts warn US could be handing chip market to China
-
Unbeaten Miami edge Columbus in front of big MLS crowd in Cleveland
-
Social media helps fuel growing 'sex tourism' in Japan
-
'Pandora's box': alarm bells in Indonesia over rising military role
-
Alaalatoa hails 'hustling hard' Brumbies for rare Super Rugby clean sheet
-
Trio share lead at tight LA Championship
-
Sampdoria fighting relegation disaster as old heroes ride into town
-
Recovering pope expected to delight crowds at Easter Sunday mass
-
Nuggets edge Clippers in NBA playoff overtime thriller, Knicks and Pacers win
-
Force skipper clueless about extra-time rules in pulsating Super Rugby draw
-
DEA MARIJUANA SCAM: As DEA Cannabis Program Implodes This 4/20, MMJ Stands Alone in Pursuit of Real Medicine
-
Nuggets edge Clippers in NBA playoff overtime thriller, Pacers thump Bucks
-
Unbeaten Miami edge Columbus in front of big crowd in Cleveland
-
Kim takes one-shot lead over Thomas, Novak at RBC Heritage
-
Another round of anti-Trump protests hits US cities
-
'So grateful' - Dodgers star Ohtani and wife welcome first child
-
PSG maintain unbeaten Ligue 1 record, Marseille back up to second
-
US, Iran report progress in nuclear talks, will meet again

Trump tariffs to hit European automakers hard
President Donald Trump's tariffs on auto imports will deal a heavy blow to European carmakers, especially German manufacturers, which rely on the US markets for a big chunk of their profits.
The move comes as the continent's automakers have already seen their earnings slump in the past year, with some such as Volkswagen, Mercedes or BMW struggling in another key foreign market, China.
European automakers exported 750,000 cars to the United States last years, worth in total 38.5 billion euros, according to the European Automobile Manufacturers’ Association, known as ACEA.
Starting on April 3, importers will have to pay a tariff of 25 percent for all cars produced abroad.
The tariffs could "quickly cause several billion euros in losses and put as many as 25,000 jobs in Europe at risk", according to global consulting firm Kearney.
- Ferrari price hike -
American consumers may also pay a hefty bill: Car prices could increase by as much as $10,000, according to a Bank of America analysis.
German automakers, which account for almost two thirds of European exports, would be badly hit.
"A 25 percent tariff will be quite damaging for Germany, where auto exports to the US account for close to half a percent of value added in the economy," said Andrew Kenningham, chief European economist at Capital Economics research firm.
"These sales could plausibly fall by 50% or so," he added.
The German automakers association, VDA, said the tariffs send "a fatal signal for free trade" as they will "place a significant burden on businesses and global supply chains".
Credit ratings firm Moody's said last month that automakers could absorb some of the tariff costs through their existing prices.
This would be easier for pricier and more profitable models, but the size of the tariff leaves little space for profit margins.
Italian sportscar maker Ferrari said Wednesday that, after the tariffs come into force, it would increase prices by up to 10 percent for models excluding the Ferrari 296, SF90 and Roma.
- Relocate? -
Porsche and Audi, luxury brands that are owned by Volkswagen, are all made outside of the United States.
The VW group could decide to relocate production of some vehicles to plants used to assemble its other brands in the United States, but such a move would take time.
BMW and Mercedes export sedans from Europe to the United States, but they also have factories in Alabama and South Carolina, where they produce sport-utility vehicles that are prized by American consumers.
These SUVs would avoid US tariffs, but the US-made models are also exported abroad, exposing them to possible retaliatory duties.
BMW said Thursday that there would be no benefits to a trade conflict, urging Europe and the United States to rapidly reach a deal.
Mercedes called for an end to reciprocal tariffs.
The Stellantis group, which owns US brands Jeep, Dodge and Ram along with French auto company Peugeot and Italy's Fiat, makes most of its sales in Europe but earns its biggest chunk of profits in North America.
Stellantis has factories in Mexico and Canada, but it would be less affected by the US-EU trade spat as it exports few made in America Jeeps to Europe and few Fiat, Alfa Romeo and Maserati cars to the United States as well as, ironically, the US-marketed but Italian-made Dodge Hornet.
Volvo Cars, which is owned by China's Geely Group, sells popular SUVs in the United States that are made in South Carolina since 2015.
Volvo Cars CEO Jim Rowan told CNBC last month that the company was preparing itself "to see whether we need to start looking at production relocation or even supplier relocation to different parts of the world".
F.Schneider--AMWN