U.S. President Donald Trump said on the 1st, local time, that starting next week he will raise the tariff on passenger cars and trucks from the European Union (EU) to 25%.
Trump said on Truth Social, "Based on the fact that the EU is not honoring the trade deal we fully agreed to, I am pleased to announce that next week we will raise the tariff imposed on the EU regarding passenger cars and trucks entering the United States," adding, "The tariff rate will rise to 25%."
The United States and the EU agreed last year to lower the item tariff rate on passenger cars and trucks imported into the United States from 25% to 15%. But the plan is to restore it by raising it 10 percentage points (p).
Trump has expressed displeasure that the North Atlantic Treaty Organization (NATO) effectively rejected the U.S. request to deploy troops during the war with Iran. There is commentary that Trump's tariff hike announcement the same day is not unrelated to his earlier grievances.