Trump to raise tariffs on cars, trucks imported from EU to 25%

“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,” Trump said in a post on his social media platform Truth Social.

He added that vehicles manufactured in the US would not face tariffs, urging foreign-based automakers to shift production to US soil.

“It is fully understood and agreed that, if they produce Cars and Trucks in U.S.A. Plants, there will be NO TARIFF,” he said.

Trump also claimed that more than $100 billion is being invested in new automobile and truck plants across the country, describing it as a record level of investment in the sector.

“There has never been anything like what is happening in America today!” he said.