President Trump raises EU car and truck tariffs to 25%
Business
President Trump has bumped tariffs on cars and trucks from the European Union from 15% to 25%, starting next week.
He says it's because the European Union didn't stick to a trade deal.
If you're wondering, cars made in the United States by European companies won't get hit by this change.
Tariff risks blocking US EU deal
The move totally blindsided European Union leaders, especially since they were working on an existing trade agreement with the United States.
Bernd Lange, who heads up the European Parliament's trade committee, said, "This is no way to treat close partners,"
Lange said. With formal sign-off still ongoing and some issues unresolved, this tariff hike could seriously slow down or even block any future deal between the two sides.