Trump tears up part of EU tariff deal to raise import duties on cars and lorries
3 hours ago
- #Tariff Dispute
- #Donald Trump
- #US-EU Trade Relations
- Donald Trump announced an increase in US tariffs on EU cars and trucks from 15% to 25%, effective next week, citing non-compliance with last summer's trade deal.
- The EU responded with criticism, calling the move unreliable and vowing to protect its interests, while the deal remains unsigned due to a pending 'trilogue' process.
- The tariff hike coincides with Trump's threats to withdraw US troops from Italy and Spain, following earlier comments on reducing forces in Germany.
- The EU had paused ratification of the trade deal twice in response to Trump's actions, but the 15% tariff was previously adjusted to include cars after EU lobbying.
- As part of the original deal, the EU agreed to significant US energy purchases and investments, but steel tariffs remain at 50%.