Trump says he's hiking tariffs on EU cars and trucks to 25%

Washington — President Trump said Friday that he's hiking tariffs on cars and trucks imported from the European Union to 25%, accusing the EU of failing to comply with a deal struck last year. "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 president wrote on Truth Social . "The Tariff will be increased to 25%." Last summer, the U.S. and the EU reached an agreement under which the U.S. imposed a 15% tariff on imports of European cars, pharmaceuticals and other products. The president said the levy won't apply for vehicles produced in the U.S. Heavy-duty trucks already have a 25% tariff rate. "It is fully understood and agreed that, if they produce Cars and Trucks in U.S.A. Plants, there will be NO TARIFF," he added.