"The United States is set to impose 25 percent tariffs on the European Union's auto sector, a move that would reverse an agreement reached in August between Washington and the bloc."
"Trump claimed that the bloc had not complied with the deal, an assertion EU officials rejected, leading to tensions over military support in the Strait of Hormuz."
"This threat is a negotiating tactic, of course. However, the US leverage is somewhat less after the IEEPA tariff rulings, said Rachel Ziemba."
"Trump's tariff threats would impact German car companies hardest as BMW, Mercedes, and Volkswagen maintain a large US presence."
The United States plans to raise tariffs on the European Union's auto sector from 15% to 25% due to claims of non-compliance with a trade agreement. This decision reverses a deal made in August. US Trade Representative Jamieson Greer confirmed the move, which follows a Supreme Court ruling limiting the president's ability to impose global tariffs. The tariffs are expected to significantly impact German automotive companies, as trade in cars is a major aspect of EU-US relations.
Read at www.aljazeera.com
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