Porsche and Volvo Cars Skid on Auto Tariffs
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Porsche and Volvo Cars, two of the European carmakers most exposed to President Trump’s auto tariffs, gave early accounts of their scrapes Tuesday. Porsche, which imports all the vehicles it sells in the U.S. from Europe, said the additional 25% levy will cost it in the low hundreds of millions of euros for April and May alone. It hasn’t raised its prices in the U.S. to recoup the losses.
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