Volkswagen said Friday year-over-year operating profit fell by $1.84 billion in the second quarter as the German automaker navigates the effects of U.S. tariffs

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

Volkswagen on Friday gave its first assessment of how U.S. President Donald Trump's trade war with Europe is expected to impact its 2025 earnings after tariffs dealt a blow to the German auto giant's operating profit in the second quarter.

Chemical products companies in Brazil, which exported $2.4 billion to the U.S. last year, face a slew of contract cancellations as President Donald Trump has threatened a new 50% tariff on the South American nation's exports from August 1.

South American nation's citrus belt, as factories scale back production and orange farmers consider leaving fruit to rot amid a sharp drop in prices. "You are not going to spend money to harvest and not have anyone to sell to,