US President Donald Trump will impose a 25% tariff on cars and trucks imported from the European Union.
Trump has accused the European Union of violating the trade agreement and has vowed to impose higher import tariffs on cars and trucks imported from the EU to the US starting next week as punishment.
“I am pleased to announce that due to the European Union’s failure to live up to the terms of our fully negotiated trade agreement, I will be raising tariffs on cars and trucks imported into the United States from the European Union next week. The tariff will be increased to 25%,” he wrote.
Trump also added that “numerous” auto plants will soon open in the United States, with $100 billion invested in their construction. The US president also hinted that if they are manufactured in the US, there will be no tariffs.
