MONEY MASTER

President Trump’s new 25% import tariffs on foreign cars  are poised to deal a major financial hit to Germany’s top carmakers — with  Porsche AG and Mercedes-Benz Group AG  taking the brunt of the impact. What’s Happening: New tariffs take effect April 3 , potentially slashing around  25% of Porsche and Mercedes’ 2026 projected operating earnings , according to Bloomberg Intelligence. The  estimated hit: €3.4 billion (US$3.7 billion or RM16.2 billion) . Automakers may have to  raise prices or shift more production to the US  to absorb the blow. Market Reaction: Porsche shares fell 5% ,  Mercedes down 5.2% ,  BMW -4.9% ,  Volkswagen -4.3% , and  Aston Martin tumbled 8.9%  in London. The tariffs  threaten Europe’s export-heavy auto industry , particularly  German brands , which ship a large portion of their high-margin vehicles like the  Porsche 911  and  Mercedes S-Class  to the US. Industry Concern...

U.S. President Donald Trump has signed an order to impose a 25% tariff on all foreign-made cars, a move designed to bolster domestic manufacturing and challenge global trade imbalances. The tariffs, effective April 2, are part of Trump’s ongoing effort to bring more jobs back to the U.S. and shrink the trade deficit. Trump stated, “What we are going to be doing is a 25% tariff on all cars that are not made in the US,” adding that the tariffs are permanent and would be a major step in reorienting global trade policies. The president has argued that the U.S. has been losing manufacturing jobs to countries like Mexico and Canada, and this move is designed to protect American workers and businesses. The U.S. is projecting that the new tariffs will generate  US$100 billion  in new annual revenue, and the move is expected to cause a significant disruption in the global automotive industry. The tariffs will apply to vehicles imported from major trading partners such as Japan, Germany...

The ongoing transformation of Germany's car industry toward electric vehicles (EVs) could result in the loss of 186,000 jobs by 2035 , according to a study commissioned by the VDA auto industry association . The report revealed that 46,000 jobs have already been lost between 2019 and 2023, primarily due to the shift to EVs. The study, conducted by research institute Prognos , points to several factors contributing to the loss of competitiveness in Germany's car industry, including the high cost of electricity , tax rates , and increasing regulatory red tape . The job losses are further exacerbated by recent developments at Volkswagen , which is threatening to shut down at least three factories , lay off tens of thousands of employees , and reduce operations at its remaining plants, as noted by the company's works council. The VDA emphasized the need for competitive political and economic conditions in Germany to retain as much added value and employment as possible wi...