What Trump said while announcing to impose 25% tariffs on cars and trucks imported from EU?
US President Donald Trump has announced that, starting next week, tariffs on cars and trucks imported from the European Union (EU) will be raised to 25%.
Trump stated that this decision was taken because the European Union is not adhering to previously agreed-upon trade agreements.
He also added that if European companies manufacture cars and trucks within the United States, no taxes will be imposed on them.
"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," Trump wrote in his post.
According to Trump, several new automobile and truck factories are currently being built in the US, involving an investment of over $100 billion. These factories will provide employment opportunities for American citizens.
He asserted that such levels of investment and development have never before been witnessed in the United States.