India, March 14 -- German carmaker BMW's CEO Oliver Zipse has said that escalating trade conflicts between the US, Europe and China will end up costing the company around €1 billion ($1.1 billion) this year.

This comes as BMW along with other European carmakers are bracing for impact from US President Donald Trump's planned tariffs on vehicles imported to the US.

The US tariffs will also hit cars made in Mexico and Canada apart from Europe. BMW has a plant in San Luis Potosi, Mexico which exports to the US.

Though Donald Trump has postponed the tariffs for companies which are in compliance with the USMCA trade deal, BMW falls short when it comes to local content rules.

Depsite this, Zipse's outlook is more optimistic. "We don't ...