Trump says he's hiking tariffs on EU cars and trucks to 25%
Washington — President Trump said Friday that he's hiking tariffs on cars and trucks imported from the European Union to 25%, accusing the EU of failing to comply with a deal struck last year.
"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," the president wrote on Truth Social. "The Tariff will be increased to 25%."
Last summer, the U.S. and the EU reached an agreement under which the U.S. imposed a 15% tariff on imports of European cars, pharmaceuticals and other products.
The president said the levy won't apply for vehicles produced in the U.S. Heavy-duty trucks already have a 25% tariff rate.
"It is fully understood and agreed that, if they produce Cars and Trucks in U.S.A. Plants, there will be NO TARIFF," he added.
The president told reporters on Friday that the hike "forces" the EU to "move their factory production much faster."
In their framework last year, the EU and U.S. agreed to eliminate tariffs on specific goods. But a European official told CBS News the European Parliament has to pass a regulation to allow for zero tariffs on American goods. That was delayed several times because of political problems in Europe and because of the Europeans' dispute with the U.S. over the future of Greenland.