Trade Wars and European Cars
Posted on Mar 6, 2018 in Uncategorized | Comments Off on Trade Wars and European Cars
President Trump has threatened to impose a 25% tariff on European cars imported to the United States. The United States currently imposes a 2.5% tariff on foreign cars, and a 25% tariff on foreign trucks and commercial vans, while the European Union charges as 10% tariff on cars from the United States. The President complained about the tariffs imposed by the European Union and the effect on business in the United States. However, it remains to be seen whether these or any tariffs on imported automobiles will actually go into effect.
