U.S. Raises Tariffs on EU Cars and Trucks to 25%

U.S. from the EU from 15% to 25% starting next week, citing the European Union's failure to comply with a trade deal reached last year. U.S.

By EU companies would be exempt from the tariff increase. In a follow-up comment on the platform, Trump added: 'many automobile and truck plants are currently under construction with 100 Billion Dollars being invested, A RECORD in the History of Car and Truck Manufacturing.

He stated that he is tearing up part of the tariff deal he struck with EU leaders at his golf course in Scotland last summer, criticizing Brussels for taking so long to ratify the deal.

While 50% tariffs on steel continued after the deal. U.S. The deal reduced tariffs on EU cars to 15% from a proposed 50%.

Last year, President Trump imposed a 25 percent tariff on global automotive imports under Section 232 of the Trade Expansion Act, citing national security risks, before reaching the August deal with the EU to lower those levies to 15 percent. U.S. Trade Representative Jamieson Greer told CNBC on Monday that the White House is moving forward with the tariff action.

U.S. says it will hike tariffs to 25% because the EU has not complied with the trade deal last year that set tariffs at 15%. U.S. president announced his intention to raise tariffs to 25% on European cars and trucks.

U.S. trade negotiators will meet today in an effort to address the tensions. An EU official told Euractiv that the bloc was committed to the relationship but prepared to protect its own interests if Trump followed through.

A European Commission spokesperson said: 'The EU is implementing its joint statement commitments in line with standard legislative practice, keeping the US administration fully informed throughout. We maintain close contact with our counterparts, including as we also seek clarity on US commitments. We remain fully committed to a predictable, mutually beneficial transatlantic relationship.