Trump announces 25 percent tariffs on European Union cars, trucks

US president says EU ‘not complying’ with current trade deal, launches new tariffs to begin next week.United States President Donald Trump has said he will increase tariffs on automobiles from the European Union to 25 per cent.The announcement on Friday could jolt the world economy at a time when it is already fragile from the knock-ons of the US-Israel war with Iran.Recommended Stories list of 3 itemslist 1 of 3US launches tariff refund system as thousands of importers line uplist 2 of 3As US-Iran talks remain ‘stalled’, experts warn of ‘long-term disruptions’list 3 of 3King Charles calls for NATO unity, Ukraine support in US Congress speechend of listIt came months after the US and the EU had forged a trade deal as Trump imposed sweeping reciprocal tariffs on trade partners across the world. The agreement set tariffs on most goods at 15 percent, lower than the 30 percent Trump had previously threatened.In a post on Truth Social, Trump accused the EU of “not complying with our fully agreed to Trade Deal”, without providing further details.Trump added that he “fully understood and agreed that, if they produce Cars and Trucks in U.S.A. Plants, there will be NO TARIFF”.A spokesman for the European Commission, the executive arm of the EU, rejected the bloc was somehow not in compliance.“We ⁠remain fully committed ⁠to a predictable, mutually beneficial transatlantic relationship,” the spokesperson said, adding the commission “will keep our options open to protect ‌EU ‌interests” if Trump does not honour the pre-existing deal.⁠The ⁠president of Germany’s VDA auto association, Hildegard Mueller, meanwhile, ⁠urged the US and ⁠EU to honour ‌the existing trade agreement and to quickly resolve the issue.Mueller said the cost of ⁠additional tariffs would ⁠be enormous and would likely impact US consumers.The US-EU deal, dubbed the Turnberry Agreement after Trump’s golf course in Scotland, 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.