NEW YORK, May 1 (Xinhua) -- U.S. President Donald Trump on Friday threatened to increase tariffs on cars and trucks imported from the European Union (EU) to 25 percent next week.
"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 on Truth Social, adding the tariff will be increased to 25 percent.
"It is fully understood and agreed that, if they produce Cars and Trucks in U.S.A. Plants, there will be NO TARIFF," he stressed.
The U.S. Supreme Court ruled in February that the Trump administration's tariff policies under the International Emergency Economic Powers Act were unconstitutional. But the Trump administration has since introduced a new set of import taxes based on other laws, seeking to impose a new tariff regime.
According to EU statistical agency Eurostat, the value of EU-U.S. trade in goods and services reached 1.7 trillion euros (about 2 trillion U.S. dollars) in 2024, equivalent to roughly 4.6 billion euros per day.
The EU will "keep options open" to protect its interests if the United States takes measures inconsistent with the joint statement between the two sides signed last year on reciprocal, fair and balanced trade, a European Commission spokesperson said Friday.
