KATHMANDU: : Donald Trump has announced plans to increase tariffs on cars and trucks imported from the European Union to 25 percent. The decision comes after claims that the EU did not comply with a previously agreed trade deal with the United States, according to international media reports.
Trump stated that the revised tariff will apply from next week. He added that vehicles produced within the United States will not face any tariff, encouraging manufacturers to shift production locally.
Earlier, the US and EU had signed a trade agreement in August. Under the deal, tariffs were reduced to 15 percent, while the EU agreed to remove duties on US industrial goods and vehicles. The latest move signals a change in trade policy and could impact European automakers exporting to the US market.
