President Donald Trump said he was raising tariffs on cars and trucks from the EU to 25%, claiming that the bloc had failed to fully comply with a trade agreement negotiated with the US.
"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," Trump said Friday in a social media post. "The Tariff will be increased to 25%."
Trump said the levies would not apply to automobiles built in US facilities. "It is fully understood and agreed that, if they produce Cars and Trucks in U.S.A. Plants, there will be NO TARIFF," the president said.
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Under a transatlantic trade deal, the EU had agreed to erase levies on US industrial goods in exchange for a 15% tariff ceiling on most EU products. But that pact has faced challenges since the initial agreement.
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(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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