The proposal would raise duties on EU cars and trucks amid ongoing trade tensions.
President Donald Trump announced plans last week to increase tariffs on cars and trucks imported from the European Union. The proposal follows a prior U.S.-EU agreement that set tariffs on certain goods at 15 percent and included commitments related to energy purchases.
“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,“ President Trump stated. “The Tariff will be increased to 25%. It is fully understood and agreed that, if they produce Cars and Trucks in U.S.A. Plants, there will be NO TARIFF.”
The announcement comes amid broader economic and geopolitical tensions between the United States and European countries, including disagreements over trade policy and international security matters.
As the Lord Leads, Pray with Us…
- For discernment for President Trump and his trade advisors as they assess tariffs on imports.
- For the president and officials in his administration as they make decisions regarding economic and security relationships with U.S. allies.
Sources: The Hill, Reuters
