WASHINGTON: U.S. President Donald Trump has announced a sharp increase in tariffs on cars and trucks imported from the European Union, raising the rate to 25%.
In a statement posted on his social media platform Truth Social, Trump said the European Union was not complying with the agreed trade deal. He added that tariffs on EU vehicles would be significantly increased starting next week.
The president stated that imported cars and trucks from the EU would now face a 25% tariff, while vehicles manufactured in the United States would not be subject to any such duties.
Trump further said that if European automakers establish production facilities in the United States, they would avoid tariffs entirely.
He noted that several automobile and truck manufacturing plants are currently under construction in the country, representing more than $100 billion in investment.
He emphasized that these factories would employ American workers and would be launched soon, claiming that the current level of industrial activity in the United States is unprecedented.
