US President Donald Trump stated on Wednesday that a decision had been made regarding tariffs on imports from the European Union, with an announcement expected “very soon,” Al Jazeera reports.
He indicated the tariffs would likely be “25 percent, generally speaking,” applying to “cars and all other things.”
Trump reiterated his long-held view that the US is treated unfairly in trade with the EU, asserting that the bloc restricts US car and farm product imports while the US accepts “everything from them.”
Currently, the EU imposes a 10% tariff on US vehicle imports, while the US has a 2.5% tariff on European passenger car imports. The US also applies a 25% tariff on imported pick-up trucks.
“Look, let’s be honest, the European Union was formed in order to screw the United States,” Trump said. “That’s the purpose of it, and they’ve done a good job of it. But now I’m president.”
These statements come amidst existing trade tensions between the US and the EU as Washington pursues the “America First” agenda in foreign affairs.
Beyond trade, the EU has raised concerns regarding the European security and the future of NATO as the US has engaged in interactions with Russia and outlined the intention to end the financial burden of funding Ukraine’s war efforts, citing concerns of corruption around the allocated funds.
