Trump’s 25% European Car Tariff Threat Didn’t Even Last A Week
Trump won’t increase the tariff on cars imported from Europe. Rate was set to jump from 15% to 25% starting this week. The European Union now has until July 4 to finalize trade deal. Trump Always Chickens Out (TACO) has become a common refrain, because the President often promises to take drastic action but doesn’t follow through. That’s happened once again as Trump has backed down from his latest tariff threat. Last Friday, Trump said he would be “increasing tariffs charged to the European Union for cars and trucks coming into the United States” starting this week. He said the rate would increase from 15% to 25%, because the “European Union is not complying with our fully agreed to trade deal.” More: Trump’s Tariff On European Cars Was 15% On Friday, He Wants 25% By Next Week Now that time is up, the ballroom enthusiast is reversing course. In a social media post, Trump said he had...