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US to raise tariffs on EU cars and trucks to 25%, citing trade deal non-compliance

Market News
01 May 2026
CNBC
Bearish
pluang ai news

President Donald Trump announced plans to increase tariffs on European Union cars and trucks to 25%, citing the EU's failure to comply with a trade deal. He did not specify the legal authority for this increase, following a Supreme Court ruling that struck down his previous tariff approach. The EU has warned that this move could jeopardize the trade agreement with the US. Existing 25% tariffs under national security claims remain in place, affecting major European automakers like Mercedes, BMW, and Volkswagen.

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