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Trump: Next week, tariffs on European Union cars and trucks will be raised to 25%
Golden Finance reports that on May 1st, Trump posted a message stating, “I am pleased to announce that, due to the European Union’s failure to comply with the trade agreement we reached, I will raise tariffs on European cars and trucks entering the United States next week.”
“The tariffs will be increased to 25%.”
“Everyone understands and agrees that if they produce cars and trucks in factories within the United States, they will be exempt from tariffs.”
“Currently, many car and truck manufacturing plants are under construction, with investments exceeding $100 billion, the highest in the history of the automotive and truck manufacturing industry.”
“These factories, built by American workers, are about to open—what is happening in America today is unprecedented!” (Jin10)