BMW has reported a 25% fall in earnings as it adjusts to new global tariffs and competition in the Chinese market. Despite this, the German automaker maintained its full-year forecast, expecting profits to broadly match last year’s as some global tariffs may be rolled back from July. First-quarter earnings before tax reached 3.1 billion euros ($3.35 billion), down 25% YoY. The EU’s anti-subsidy tariff on Chinese EV imports hit earnings, as BMW imports some European-sold cars from China. Currency-adjusted revenues fell 9% to 33.8 billion euros ($36.5 billion), primarily attributed to an increasingly competitive Chinese market.