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Trump Hikes Tariffs on Key European Import to Encourage US Industry

President Donald Trump hiked tariffs on car imports from Europe after contending that European Union nations are not abiding by a trade deal reached last summer.

Trump wrote on Truth Social that he is β€œpleased 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,” according to a report from Politico.

β€œThe Tariff will be increased to 25%,” he revealed.

The current tariff on European cars and car parts currently sits at 15 percent, Politico noted.

That rate was reached in July as a component of the Turnberry Deal, which was negotiated at Trump’s property in Scotland.

As part of the deal, the European Union was supposed to cut tariffs on American industrial products, as well as buy $750 billion in energy and invest $600 billion.

Trump said in his Truth Social post that American car plants β€œwill be opening soon” and remarked that more funds are being invested into the projects.

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β€œIt is fully understood and agreed that, if they produce Cars and Trucks in U.S.A. Plants, there will be NO TARIFF,” his post continued, per a report from ABC News.

β€œMany 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,” Trump added in his post.

β€œThese Plants, staffed with American Workers, will be opening soon,” he continued.

β€œThere has never been anything like what is happening in America today! Thank you for your attention to this matter. President DONALD J. TRUMP.”

ABC News noted that the tariff hike appears to be occurring under Section 232, which allows Trump to β€œadjust the imports” brought into the United States in a way that threatens national security.

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