President Donald Trump said on Friday that he will raise United States tariffs on cars and trucks from the European Union next week, stating that the bloc is not complying with an earlier trade agreement.
The pact, agreed last summer, capped the US tariff on EU cars and parts at 15 per cent, which is lower than the 25 per cent duty imposed on several other trading partners.
These sector-specific duties were not affected by a Supreme Court ruling earlier in the year which struck down a range of Trump’s global tariffs.
The US president said on Friday that, “based on the fact the European Union is not complying with our fully agreed trade deal, next week I will be increasing tariffs charged to the European Union for cars and trucks coming into the United States.”
He wrote on his Truth Social platform that the tariff would be increased to 25 per cent.
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