Trump Slaps 25% Tariff on European Union Cars, Says Bloc Not Complying with Trade Deal
President Trump on Friday announced he has increased tariffs on European Union cars and trucks. The post Trump Slaps 25% Tariff on European Union Cars, Says Bloc Not Complying with Trade Deal appeared first on The Gateway Pundit.
TL;DR
- President Trump announced a 25% tariff increase on European Union cars and trucks.
- The increase is due to the EU's alleged non-compliance with a trade deal.
- Under a previous agreement, the EU committed to investing $600 billion in the US by 2028 and purchasing $750 billion in US energy.
- Companies manufacturing vehicles in the US will be exempt from the new tariffs.
- Trump stated that the tariffs will encourage the EU to accelerate factory production within the US.