President Trump on Friday announced he has increased tariffs on European Union cars and trucks.
Trump slapped a 25% tariff on the European Union after the bloc refused to fully comply with his trade deal.
Companies that make vehicles in the United States will be exempt from the new tariffs.
Trump’s full statement:
I am pleased to announce that, based on the fact the European Union is not complying with our fully agreed to Trade Deal, next week I will be increasing Tariffs charged to the European Union for Cars and Trucks coming into the United States.
The Tariff will be increased to 25%. It is fully understood and agreed that, if they produce Cars and Trucks in U.S.A. Plants, there will be NO TARIFF.
Many Automobile and Truck Plants are currently under construction, with over 100 Billion Dollars being invested, A RECORD in the History of Car and Truck Manufacturing.
These Plants, staffed with American Workers, will be opening soon — There has never been anything like what is happening in America today! Thank you for your attention to this matter. President DONALD J. TRUMP
The post Trump Slaps 25% Tariff on European Union Cars, Says Bloc Not Complying with Trade Deal appeared first on The Gateway Pundit.