European automakers are cratering this afternoon, the President’s threat to hike tariffs on EU cars and trucks has wiped billions off the Euro Stoxx 50…
Trump says Brussels “failed to comply” with the Scotland trade deal, he’s using the 25% levy to force production to relocate to U.S. soil…
The EU is already signaling “firm retaliation,” the trade war is opening a second front just as the Iran war reaches a boiling point…
Brussels is reportedly weighing a counter-strike on U.S. tech exports, a move that could disrupt the only growing sector in the world…
The “Scotland Deal” is officially dead, the President just put a $15,000 tax on a new German sedan.
Watching the West fracture over car parts while the Navy is in the strait is a gift to Tehran.
“European stocks slipped in early trading on Monday, weighed down by automakers after US President Donald Trump threatened to increase tariffs on cars imported from the European Union. The Euro Stoxx 50 index fell 0.08% by 0720GMT, while London markets remained closed for a public holiday. Car manufacturers led the losses after Trump announced on Friday that the EU had not fully complied with a previously negotiated trade agreement. BMW dropped 2.1%, Mercedes-Benz Group lost 1.9%, and Volkswagen declined 1.7%, dragging the broader index lower.”
Trump says he will raise tariff on autos from European Union to 25%
“[WASHINGTON] US President Donald Trump said he would increase tariffs on cars and trucks from the European Union (EU) to 25 per cent this week from the previously agreed 15 per cent, saying the bloc had not complied with its trade deal with Washington.
The move drew sharp rebukes from European politicians and trade groups, with one European economist calling on Brussels and the German government to “finally show some backbone” and impose retaliatory tariffs.
“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 US,” Trump wrote in a social media post on Friday (May 1).
“It is fully understood and agreed that, if they produce cars and trucks in USA. Plants, there will be no tariff.””