Volkswagen said Friday year-over-year operating profit fell by $1.84 billion in the second quarter as the German automaker navigates the effects of U.S. tariffs

Europe's biggest carmaker posted a sharp drop in second-quarter profit, primarily due to high costs from increased U.S. import tariffs.

Arno Antlitz, chief financial officer of the Volkswagen Group, discusses the firm’s earnings and the impact of U.S. import tariffs.