Automaker Stellantis says U.S. President Donald Trump's tariffs have already cost it €300 million ($349.2 million). 

The company said while presenting preliminary figures for the first half of 2025 on July 21 that the financial hit was a result of tariffs impacting trade and the company's loss of planned production in its response to them, reports BBC News.

A 25% tariff on cars being imported to the U.S. has been in place since April, and some car manufacturers, including Jaguar Land Rover (JLR) have temporarily paused exports to the U.S. in response.

Stellantis owns 14 car brands, including Vauxhall, Jeep,  Fiat Alfa Romeo, Maserati, Citroen, Chrysler and Dodge. It said its shipments to North America were 25% lower in the three months to June compared to the same period in 2024, due in part to tariffs. Total sales over that time were also down 10%.

Although Stellantis has manufacturing plants in the U.S., it also manufactures vehicles in the U.K., Europe, Canada, Mexico and South America.

The car company has forecast revenues of €74.3 billion for the first half of the year, and a net loss of €2.3 billion, which it says includes the impact of tariffs.

The U.K. reached a deal with the White House in May to reduce car tariffs to 10% on up to 100,000 vehicles, which is still considerably higher than the previous tariff of 2.5%. Other countries and regions continue to attempt to negotiate deals that will spare them from the highest level of punitive tariffs Trump announced April 2.