President Donald Trump’s tariffs cost German auto giant Volkswagen about $1.5 billion over the first half of 2025, the company said on Friday. Sales in North America plunged 16% due primarily to U.S. tariffs, said Volkswagen, which owns a host of brands including Audi, Lamborghini and Porsche.

The German automaker said it expects challenges due to political uncertainty, expanding trade restrictions and geopolitical tensions.

President Trump’s new levies, which have pushed the country’s tariffs to their highest levels in decades, are typically paid by importers when goods reach U.S. ports. So there is little mystery about who makes that first payment.

President Donald Trump’s so-called “Liberation Day” tariffs are set to go into effect on Aug.1, after a 90-day delay. If an agreement isn’t reached, several counties will face steep tariffs ranging from 10%-50% on imports.

New polling reveals that the fallout from the Jeffrey Epstein scandal continues to cast a shadow over Donald Trump and his administration.

The Trump Administration has tried—and failed—to put tensions over its handling of convicted sex offender Jeffrey Epstein's case to bed for weeks. But they’ve only continued to escalate as news outlets have reported new information related to President Donald Trump’s years-long relationship with Epstein and potential inclusion in files related to the case.