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Trump: Tariffs on EU Cars and Trucks to Increase to 25% Next Week
On May 1, Trump announced via social media that he is pleased to declare that, due to the EU’s failure to comply with the trade agreement we reached, next week he will raise tariffs on EU cars and trucks entering the United States. The tariffs will increase to 25%. It is well known and agreed that they will be exempt from tariffs if they produce cars and trucks in factories located within the United States. Currently, many car and truck manufacturing plants are under construction, with investments exceeding $100 billion, marking the highest record in the history of the automotive and truck manufacturing industry. These factories, staffed by American workers, are set to open soon—what is happening in America today is unprecedented! (Jin Shi)