Trump announces 25 percent tariff on EU-origin automobiles and heavy vehicles
US President Donald Trump stated that customs duties on automobiles and heavy vehicles originating from the EU will be increased to 25 percent next week, adding, "If these vehicles are produced in facilities in the US, no tariffs will be applied."
Trade disputes between the US and the European Union (EU) continue. US President Donald Trump announced that customs duties on automobiles and heavy vehicles originating from the EU will be raised to 25 percent. In a statement on his social media account, Trump said, "Due to the EU not complying with the trade agreement we fully agreed upon, I am pleased to announce that I will be increasing the tariffs on automobiles and trucks imported from the EU to the US starting next week. The tariff rate will be raised to 25 percent" he said.
Trump emphasized that no customs duties would be applied if EU-origin vehicles are produced in the US, stating, "It is clearly understood and agreed that if these vehicles are produced in facilities in the US, no tariffs will be applied" he said.
The US President stated, "Many automobile and truck factories are currently being built, with over 100 billion dollars being invested. This is a record in the history of automobile and truck production. These facilities, which will employ American workers, will soon be operational. Nothing like what is happening in America today has been seen before."
News Source: 12punto
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