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U.S. to Impose 25 Percent Tariff on EU Cars
(MENAFN) US President Donald Trump announced Friday that Washington will impose a 25% tariff on automobiles and trucks imported from the European Union beginning next week, accusing Brussels of failing to honor a previously negotiated trade agreement.
"I am pleased to announce that, based on the fact the European Union is not complying with our fully agreed to Trade Deal, next week I will be increasing Tariffs charged to the European Union for Cars and Trucks coming into the United States," Trump wrote on his Truth Social platform.
The president simultaneously offered an exemption to foreign automakers willing to relocate manufacturing operations to American soil. "It is fully understood and agreed that, if they produce Cars and Trucks in U.S.A. Plants, there will be NO TARIFF," he said.
Trump further cited what he described as a record-breaking surge in domestic automotive investment, claiming more than $100 billion is currently being directed toward new vehicle manufacturing facilities nationwide. "There has never been anything like what is happening in America today!" he said.
"I am pleased to announce that, based on the fact the European Union is not complying with our fully agreed to Trade Deal, next week I will be increasing Tariffs charged to the European Union for Cars and Trucks coming into the United States," Trump wrote on his Truth Social platform.
The president simultaneously offered an exemption to foreign automakers willing to relocate manufacturing operations to American soil. "It is fully understood and agreed that, if they produce Cars and Trucks in U.S.A. Plants, there will be NO TARIFF," he said.
Trump further cited what he described as a record-breaking surge in domestic automotive investment, claiming more than $100 billion is currently being directed toward new vehicle manufacturing facilities nationwide. "There has never been anything like what is happening in America today!" he said.
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