Europe's largest market cap company SAP warns of slowdown in US business, says Japan agreement brings "hope"

German software giant SAP said on Wednesday that the escalating US tariff tensions are slowing down customer decisions, but the cautious optimism brought by the US-Japan trade agreement announced on Tuesday provides reasons for optimism. SAP's Chief Financial Officer Dominic Asam said, "In areas most affected by policies, such as the US public sector and large manufacturing companies with complex global supply chains, there were some large transactions delayed at the end of last quarter." Asam pointed out that the US business has not completely disappeared, but delays in processes are caused by the need for higher-level approvals due to uncertainty. "Now the key is to catch up, which largely depends on the overall environment evolving. The latest developments in Japan bring hope, but it is still too early to speculate," he added. "The faster the uncertainty fades away, the stronger our confidence in the full-year performance."