Daimler braces for European emissions-test impact as Q2 profit falls 30%

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FRANKFURT — Daimler blamed U.S.-China tariffs for a 30 percent drop in second-quarter profit and predicted a further decline as new emissions test standards in Europe hit sales. Earnings before interest and tax (EBIT) fell 30 percent to 2.64 billion euros ($3.1 billion) during the quarter, weakened by Chinese price-cutting on U.S.-made Mercedes models to offset import duties, the company said on Thursday. Revenue dipped 1 percent to 40.8 billion euros.

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