- Donald Trump announced an increase in tariffs on car imports from the EU.
- The new rate will be 25 percent.
- Trump claims that the EU is not abiding by an existing mutual trade agreement.
- European automakers can avoid tariffs by manufacturing vehicles in the United States.
US President Donald Trump announced on Friday that he will raise tariffs on auto imports from the European Union to 25% next week. The AP and DPA agencies reported on this, saying that such a step could mean another blow to the world economy in the current critical situation.
Trump on his social network Truth Social stated that the European Union is not complying with the trade agreement, as a result, it will increase the import duty on cars and trucks from this market. However, he did not specify what the violations of the agreement should be. Last summer, Trump and European Commission President Ursula von der Leyen announced an agreement that sets a 15% tariff on most EU goods imported into the US. This also means cars and auto components.
After announcing the increase in tariffs Trump he stated that if European companies produce cars in the US, then the tariff will not apply. At the same time, he added that several plants are already under construction, while more than 100 billion USD (85.46 billion euros) have been invested in the projects, which he called a record.
