Volkswagen ‘nearing US trade deal’ as it says Trump tariffs have cost it billions
Volkswagen is closing in on a tariff deal with the US, the boss of the German carmaker has said, as it eyes up the market for affordable electric cars in Europe.Europe’s biggest car manufacturer, which also owns the Audi, Seat and Porsche brands, has been hit hard by Donald Trump’s trade tariffs, announced in April.The levies, combined with a turbulent market, have already cost “several billions”, the chief executive, Oliver Blume, said.While the Trump administration has agreed to reduce the current 27.5% tariffs on European cars and car parts to 15%, the lower rate would still “be a burden for Volkswagen Group”, Blume told Bloomberg TV.
Volkswagen has promised “massive” investments in the US as part of its efforts to secure a separate deal with the Trump administration that could lower its tariff rate below 15%.“We don’t appreciate the asymmetric deal between US and EU, because it’s distorting the competition in Europe,” he said.“We are counting on our own offer investing heavily in the US … and there we are in close contact and good talks with the US government, and we hope that we come to a quick solution also during the next weeks with the support from the US government to our investment.”Blume has said the German group could consider localising the production of Audi cars and expanding exports out of the US.The Volkswagen boss, speaking at a trade show in Munich on Monday, said its luxury car brand Porsche was being squeezed by a “sandwich” of tariffs and a weak Chinese market.
“It’s several billion euros on our balance sheet that this situation costs this year,” he told Reuters,Trump’s tariffs on car imports are expected to hit Porsche particularly hard as, unlike VW models and the German rivals BMW and Mercedes-Benz, Porsche cars sold in the US are almost exclusively manufactured in Germany,Blume also presented a concept for a new small electric car at the trade show, as Volkswagen sets out to capture a fifth of the compact electric cars market in Europe,Sign up to Business TodayGet set for the working day – we'll point you to all the business news and analysis you need every morningafter newsletter promotion“These models are built on one concept: e-mobility for everyone, at an attractive price and profitable,” he said,Its rival BMW said it was preparing a Chinese version of its iX3 SUV to go on sale in 2026.
Jochen Goller, the sales chief at BMW, said the Chinese iX3 will get the same interior display as the European version but localised software will be tailored to Chinese tastes.Trump’s trade war has triggered upheaval across the car industry.In the UK the Chinese-owned sports car manufacturer Lotus has said it will cut 550 jobs, which it blamed partly on uncertainty caused by tariffs.Jaguar Land Rover announced it would axe up to 500 management jobs in the UK as part of a voluntary redundancy round, after it reported a slump in sales also linked to Trump’s tariffs.The UK’s biggest car manufacturer is dealing with disruption caused by a cyber-attack.
Don’t leave social care out of the equation | Letters
The NHS’s year-round hospital overcrowding is not the product of a single failing, but the result of two interdependent systems under pressure: health and social care (NHS corridor care now year-round crisis in England, experts say, 1 September). The government’s ambition to build an “NHS fit for the future” through prevention, neighbourhood services and digital tools is welcome, but this vision risks treating symptoms rather than causes if social care is left out of the equation.Unless there is sufficient capacity in community-based social care to support people recovering at home, the logjam will persist, and “corridor care” will remain a reality. The evidence is clear: timely investment in community services such as reablement and intermediate care prevents unnecessary admissions, speeds up safe discharges, and delivers strong returns on investment for the NHS.Reform is overdue
Women in UK with polycystic ovarian syndrome facing widespread failures in treatment, report finds
Women living with polycystic ovarian syndrome (PCOS) face prolonged delays in diagnosis and limited access to treatment, according to a report by a parliamentary group.More than a third of women with the condition had to wait longer than four years for a PCOS diagnosis, according to the report, and after diagnosis almost two-fifths (38%) of respondents were not provided with any resources.PCOS is a common condition that affects about one in eight women of childbearing age in the UK. The main features of the condition include irregular periods; excess of the hormone androgen, which is linked to excess facial or body hair; and polycystic ovaries, which are when the ovaries are enlarged and contain many fluid-filled sacs.Published by the all-party parliamentary group on PCOS, the report consists of oral evidence sessions, a survey of more than 2,000 patients on their experiences, as well as freedom of information requests to all 42 Integrated Care Boards (ICBs) in England
Emergency alert: millions of UK mobile phones to receive test message on Sunday
Millions of mobile phones will vibrate and make a siren sound across the UK on Sunday afternoon during a test of a nationwide emergency alert system.Handset users will also receive a message on their screens reminding them the 10-second alert, which will happen at 3pm, is a test. There are about 87m mobile phones in the UK.The government has said not all devices will receive the alert, including older phones and those not connected to 4G or 5G networks. The alert will not work on a phone that is switched off or in airplane mode
A new dream man has dropped – the laid-back, confident beefcake | Emma Beddington
How do you like your men? Yes, obviously, we shouldn’t be dismissively taxonomising a whole gender like boxed Barbies. But in the era of tradwives and nu-gen gold diggers, in which the manosphere remains alive and kick(box)ing, telling teenage boys lies about women, I reckon there’s a way to go before we reach reductive objectification parity. Does that make it OK? No. Am I going to do it anyway? Yes, a bit.So, returning to the question, my answer is “like my coffee”: small, strong, dark and highly over-stimulating, brewed by my sister’s boyfriend in Scarborough … No, hang on, this is falling apart
Private menopause tests risk undermining NHS care, doctors say
Expensive, over-the-counter hormone tests for menopause are clinically useless and risk undermining women’s healthcare, senior doctors have warned.The testing kits, offered by private clinics and available to buy for self-testing, claim to offer tailored insights through measuring hormone levels. But they have been described by experts as misleading and medically unnecessary.“There are lots of private healthcare and telehealth clinics offering tests and increasing numbers of medically untrained, self-proclaimed ‘experts’ giving advice on social media and podcasts to get these tests done,” said Dr Stephanie Sterry, who recently co-wrote an editorial for the BMJ titled Menopause Misinformation is Harming Care.“Unfortunately, these tests are not evidence-based,” she added
‘I still want to achieve’: people living with stage 4 cancer embrace Chris Hoy charity ride
Mel Erwin is pragmatic about what it took to get her on a bike. “I have one and a half lungs. I’m on a treatment drug. I don’t identify as sporty. I wouldn’t have done it without a goal
Athletics can’t keep kidding itself – it needs a five-pronged plan to save track and field | Sean Ingle
Unprecedented strike shows racing unified to send pre-budget message to Labour over betting duty crisis
Surrey all out for 246, McKinney punishes Essex: county cricket day one – as it happened
Jack Draper ruled out for rest of the season with arm injury
Sinner’s reaction to US Open defeat shows why he and Alcaraz will tower over the tour for years to come
England look to get smart after one-day romp fails to mask long-term troubles