Trump to Raise EU Car Tariffs to 25% Next Week, Citing Non-Compliance with Trade Deal
U.S. president announces tariff increase on European vehicles, claiming EU not adhering to bilateral agreement reached last year
Quick Look
- President Donald Trump announced Friday that his administration will raise tariffs on cars and trucks from the European Union to 25 percent next week, claiming the bloc is not complying with a bilateral trade agreement.
- Under a trade deal last year, the Trump administration had reduced tariffs on EU automobiles to 15 percent from the previous 27.5 percent rate.
AI-generated summary
By Song Sang-ho
WASHINGTON, May 1 (Yonhap) -- U.S. President Donald Trump said Friday that his administration will raise tariffs on cars and trucks from the European Union to 25 percent next week, claiming that the regional bloc is not complying with a bilateral trade agreement with the United States.
Trump made the announcement in a social media post, reiterating that if countries produce automobiles in the U.S., there will be no tariffs.
"I am pleased to announce that, based on the fact the European Union is not complying with our fully agreed to Trade Deal, next week I will be increasing Tariffs charged to the European Union for Cars and Trucks coming into the United States," Trump wrote on Truth Social. "The Tariff will be increased to 25 percent."
Under a trade deal last year, the Trump administration reduced tariffs on EU automobiles to 15 percent. EU cars were previously subject to a total rate of 27.5 percent.
