BMW boss predicts Trump’s 25% tariffs on foreign cars will be lowered by July

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The boss of BMW has predicted that Donald Trump’s tariffs on imports of foreign cars will be lowered this summer, as the German carmaker reported that its profits for the first quarter tumbled by 25%. Oliver Zipse, BMW’s chief executive, said that he expects Trump’s 25% tariffs on the import of foreign cars will be dropped by July. He made the prediction after the German carmaker reported a 25% drop in profit for the first quarter of the year to €3.1bn (£2.6bn) as it braced for the effects of Donald Trump’s trade war and strong competition in China. Zipse also...