According to Reuters, U.S. President Donald Trump has stated that due to the European Union’s failure to implement a trade agreement, tariffs on European cars and trucks will be increased to 25%.
At the same time, Trump added that if European companies manufacture their cars and trucks inside the United States, no tariffs will be imposed on them.
Trump described this decision as important for strengthening domestic production and supporting American workers.
He also noted that many car factories are currently being built in the U.S., with over $100 billion invested in this sector, calling it an unprecedented development in the history of the industry.
It is worth mentioning that the European Union has not yet officially responded to Trump’s tariff increase.