BMW said newly imposed trade tariffs could dent the carmaker's earnings by 1 billion euros ($1.09 billion) this year, as escalating trade tensions between China, Europe and the U.S. take a mounting toll on global companies' finances.

German automaker BMW warned Friday that it would take a big hit from trade wars between the United States, China and Europe this year, on top of weak Chinese demand, after profits plunged in 2024. Finance chief Walter Mertl said at the presentation of BMW’s annual results that US tariffs on steel and aluminum,

The automaker expects earnings to remain flat this year while sales will grow only slightly as a result of global trade tensions and a demand shift in China.