Mercedes, Porsche Cut Forecasts as US Tariffs Hammer German Cars

Mercedes-Benz Group AG and Porsche AG scaled back their profit expectations for the year, underscoring the toll President Donald Trump’s trade war is taking on some of Europe’s largest luxury-car makers.

The two German manufacturers on Wednesday flagged the twin pressures of new US tariffs and intensifying competition in China, where an electric-vehicle price war is undermining demand for pricier models.