"Trump accused the EU of not complying with our fully agreed to Trade Deal, without providing further details. He added that, if they produce Cars and Trucks in U.S.A. Plants, there will be NO TARIFF."
"The president of Germany's VDA auto association, Hildegard Mueller, urged the US and EU to honour the existing trade agreement and to quickly resolve the issue, stating that the cost of additional tariffs would be enormous and would likely impact US consumers."
"The US-EU deal, dubbed the Turnberry Agreement, had already been questioned after the US Supreme Court ruled that Trump lacked the authority to declare a national emergency to justify many of his tariffs, lowering the ceiling on EU tariffs to 10 percent."
President Trump announced a 25% increase in tariffs on EU automobiles, citing non-compliance with a trade deal. This decision comes during a fragile global economy affected by the US-Israel war with Iran. The previous agreement set tariffs at 15%, lower than the initially threatened 30%. Trump stated that no tariffs would apply if cars and trucks are produced in the USA. The German auto association president urged both sides to honor the agreement, warning of significant costs for US consumers. The new tariffs will take effect next week.
Read at www.aljazeera.com
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