U.S. President Donald Trump said on the 1st (local time) that starting next week he will raise the tariff on European Union (EU) passenger cars and trucks to 25%.
Trump said on Truth Social that he was pleased to announce that, based on the fact that the EU is not complying with the trade deal we fully agreed to, the United States will raise the tariff imposed on the EU for passenger cars and trucks coming into the United States next week, adding, "The tariff rate will rise to 25%."
The United States and the EU agreed last year to lower the itemized tariff rate on passenger cars and trucks imported into the United States from 25% to 15%. But the plan now is to raise it by 10 percentage points (p) to restore it to the original level.
Trump has voiced dissatisfaction that the North Atlantic Treaty Organization (NATO) effectively rejected the U.S. request to deploy troops during the war with Iran. There is an interpretation that Trump's announcement of a tariff increase that day is not unrelated to his previous grievances.