United States President Donald Trump has announced plans to increase tariffs on cars and trucks imported from the European Union (EU) to 25 percent.
Trump disclosed this on Friday in a post on his Truth Social platform, accusing the EU of failing to comply with a previously agreed trade deal.
According to him, the new tariff rate will take effect next week, although he did not specify an exact date.
“I am pleased to announce that, based on the fact that the European Union is not complying with our full agreed trade deal, next week I will be increasing tariffs on cars and trucks coming into the United States. The tariff will be increased to 25 percent,” he wrote.
He added that the tariffs would not apply to vehicles manufactured within the United States, noting that companies producing cars and trucks locally would be exempt.
The US president further stated that significant investments are currently being made in the country’s automobile sector, with about $100 billion reportedly committed to building new plants.
According to him, these facilities, which will employ American workers, are expected to begin operations soon, describing the development as unprecedented in the history of the industry.
