Donald Trump renews pressure and plans to hike tariffs on EU cars
Summary
President Donald Trump announced he will raise tariffs on cars and trucks imported from the European Union. The tariff will increase from 15% to 25% because he says the EU has not followed the trade agreement with the United States.Key Facts
- President Trump plans to increase tariffs on EU cars and trucks to 25%.
- The current tariff rate on these vehicles is 15%.
- The tariff hike is due to the EU not complying with the trade deal with the U.S.
- The new tariffs put extra pressure on car parts makers in Europe.
- Tariffs are taxes added to imported goods to make them more expensive.
- The announcement was made last week.
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