Trump says he will hike tariffs on EU cars to 25%
Summary
President Donald Trump announced he will raise tariffs on cars and trucks imported from the European Union to 25%. This increase comes after a previous trade deal set tariffs at 15%, but President Trump said the EU was not following the agreement properly.Key Facts
- President Trump plans to increase tariffs on EU cars and trucks to 25%.
- The current tariffs on EU goods are 15%, set by a deal made last July.
- The trade deal was negotiated at President Trump’s golf course in Scotland.
- The deal reduced an earlier threat of 30% tariffs on EU goods.
- In exchange, the EU agreed to invest in the US and help boost US exports.
- The European Parliament paused approval of the deal after tensions over President Trump's Greenland plans.
- The deal includes a clause allowing suspension if the US government undermines the agreement or threatens EU interests.
- The European Parliament approved the deal in March despite earlier disputes.
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