General Motors on Tuesday said tariffs on cars and auto parts drove $1.1 billion in losses over three months ending in June. A day earlier, Jeep maker Stellantis said it expects to have suffered $2.7 billion in losses over the first half of 2025 due in part to U.S. tariffs.

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

Volkswagen reported a $1.5-billion first-half hit from tariffs and cut its full-year sales and profit margin forecasts in the German carmaker's first assessment of the damage from U.S. President Donald Trump's trade war.

Brazil’s inflation edged up in early July as US President Donald Trump threatened to slap the South American nation with punishing tariffs, further complicating the consumer price outlook for the central bank.

The Trump administration is poised to implement a new wave of tariffs, potentially reaching 50% for certain nations, effective August 1st. This move underscores President Trump's strategy of using tariffs as leverage to secure international concessions and reshape global trade relations.