Trump says he's hiking tariffs on EU cars and trucks to 25%
Summary
President Donald Trump announced he will raise tariffs on cars and trucks imported from the European Union to 25%. He said the increase is because the EU has not followed the trade deal made last year between the U.S. and the EU.Key Facts
- President Trump plans to increase tariffs on EU cars and trucks from 15% to 25%.
- The original trade deal last summer set a 15% tariff on some European imports like cars and pharmaceuticals.
- The higher tariff will not apply to vehicles made in U.S. factories.
- Heavy-duty trucks already face a 25% tariff.
- The President said the tariff hike aims to encourage the EU to move factory production to the U.S. faster.
- The EU and U.S. agreed to remove tariffs on certain goods, but the EU still needs its Parliament to approve this.
- The approval has been delayed due to political issues in Europe and disputes with the U.S., including over Greenland.
- A European official said regulatory delays have prevented lowering tariffs on American goods.
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