If the E.U. wants to further increase their already massive tariffs and barriers on U.S. companies doing business there, we will simply apply a Tax on their Cars which freely pour into the U.S. They make it impossible for our cars (and more) to sell there. Big trade imbalance!— Donald J. Trump (@realDonaldTrump) March 3, 2018
CNBC: Trump threatens to slap retaliatory tariff on European cars as trade war talk heats up
* President Trump hit out at Europe, which has threatened retaliation for new U.S. steel export tariffs.
* Trump said the U.S. may levy a 25 percent tax on cars exported from the European Union, which could impact popular brands sold stateside.
President Donald Trump threatened to hit car exports from the European Union with a retaliatory tax, an apparent response to European officials threatening policy changes of their own in the wake of newly announced tariffs on steel and aluminum.
In a post on Twitter, Trump cited a "big imbalance" between the two countries, said if the 28-nation bloc insisted on imposing punitive taxes on U.S. goods, America would strike back on European car exports.
"If the E.U. wants to further increase their already massive tariffs and barriers on U.S. companies doing business there, we will simply apply a tax on their cars which freely pour into the U.S.," the president said on Twitter.
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WNU Editor: European car manufacturers make most of their cars in the U.S., but the U.S. still imports over $40 billion in cars per year from Europe .... Cars Imports into the United States. The BBC has a higher number .... The US is the largest export market for EU cars - making up 25% of the €192bn (£171bn; $237bn) worth of motor vehicles the bloc exported in 2016 (China was second with 16%). Bottom line, any U.S. tariffs will hurt. On a side note .... try to buy a U.S. car in Europe .... good luck on that.
More News On President Trump Threatening To Impose Tariffs On European Cars
Trump fires up trade war rhetoric, threatens EU with tax on European cars -- FOX News
Trump steps up war of words on trade with threat to tax EU cars -- BBC
Escalating Trade Fight, Trump Threatens Higher Taxes on European Cars -- New York Times
Trump threatens E.U. with tax on car imports, slams 'very stupid' trade deals -- Politico
Trump threatens retaliatory tax on EU cars -- Euronews
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ReplyDeleteI know many people here in Sweden that owns, for example, a Chrysler. But yes, they are expensive..
ReplyDeleteHans,
ReplyDeleteI have also seen many American cars in Europe .... but yes .... they are definitely not cheap.