BASF has cited the trade war between the US and China as it issued a major profits warning . The German firm , which said it expected full - year earnings before interest and taxes to be up to 30 % below its forecast ##s , pointed to declining global car sales and losses in the North American agricultural sector as additional reasons for the below - estimate figures .
BASF has cited the trade war between the US and China as it issued a major profits warning. The German firm, which said it expects full-year earnings before interest and taxes to be up to 30% below its 2018 results, pointed to declining global car production and weakness in the North American agricultural sector as additional reasons for the below-estimate figures.