Trump Threatens To Increase Tariffs On EU Cars, Trucks To 25% Next Week
Rotela Oguns
The United States, US, President Donald Trump has threatened to increase tariffs on cars and trucks imported from the European Union, (EU).
Trump spoke on Friday, stressing that the decision will take effect starting from next week.
According to the US helmsman, the agreement made last summer set a limit on US taxes on European Union cars and parts at 15 percent, which is less than the 25 percent tax he imposed on many other trading partners.
“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.
“The tariff will be increased to 25%,” he wrote on his Truth Social platform.
Trump’s decision may have been prompted by the position of German Chancellor, Friedrich Merz, who is not favourable disposed to America’s war on Iran
Merz’s position has attracted criticisms from Trump who told the German Chancellor to concentrate on stopping the Ukraine war rather than getting involved in matters related to Iran.
If Trump makes true his threat, Germany could face major economic challenges if heavy taxes are imposed on cars and parts, as the country plays a major role in exporting cars and automotive components within the European Union.
