U.S. President Donald Trump said on Wednesday that his administration is preparing to impose a 25% tariff on imports from the European Union, a move aimed at addressing longstanding trade disparities.
“We have made a decision, and we’ll be announcing it very soon, and it’ll be 25% generally speaking, and that’ll be on cars, and all of the things,” Trump told reporters during a cabinet meeting.
The proposed tariff would mark a significant escalation in U.S. trade policy toward the EU. Currently, the European Union levies a 10% tariff on passenger cars - four times the U.S. rate of 2.5% - and imposes value-added taxes of at least 17.5% on various goods. U.S. officials have frequently complained about these protectionist measures, arguing that they place American industries at a disadvantage.
The new measure is seen as part of Trump’s broader strategy to rebalance global trade, particularly in sectors where the U.S. perceives unfair practices by its trading partners. However, the announcement has raised concerns among European leaders, who warn that such tariffs could trigger retaliatory measures and further strain transatlantic economic relations.
At present, further details - including the scope of the tariff and its timeline—remain under wraps. The European Union has yet to issue an official response to Trump’s declaration.
As the U.S. moves forward with its aggressive trade agenda, markets and policymakers on both sides of the Atlantic are closely watching for potential ripple effects across global trade networks.
U.S. President Donald Trump says Washington is “semi-negotiating” with Iran as uncertainty surrounds efforts to ease regional tensions....
Kyrgyzstan is facing fuel supply challenges after shipments of petroleum products from Russia and Belarus fell sharply in July, pushing prices higher ...
Iran is moving to ratify a long-delayed agreement governing the Caspian Sea, as Tehran seeks closer economic cooperation with neighbouring states whil...
An agreement between Iran and the U.S. to reopen the Strait of Hormuz is expected "soon," a U.S. official has said. The deal would result in the resumption of commercial shipping through the sea passage and the lifting of an American naval blockade on Iranian ports.
A deal on a new route for vessels through the Strait of Hormuz is "very close," Iranian Foreign Minister Abbas Araghchi has said, while warning that the reopening of the waterway depends on the U.S. meeting other conditions, including paying compensation to Iran.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 9th of August, covering the latest developments.
Ukrainian President Volodymyr Zelenskyy said Ukraine is increasingly penetrating Russia's air-defence network, as both sides stepped up overnight strikes on energy, logistics and port infrastructure.
Typhoon Dolphin lashed Japan’s southern Okinawa prefecture on Saturday, injuring six people, disrupting flights and leaving more than 50,000 buildings without power, as China shut ports and suspended transport services ahead of the storm’s expected arrival on its east coast.
At least six people were killed and dozens injured in overnight Ukrainian drone strikes on Russia’s Belgorod region, while Russian missile and drone attacks killed two people in Kharkiv and injured eight others in Odesa, according to regional authorities.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 10th of August, covering the latest developments.
Greenland has issued a “strong warning” to a U.S. oil company linked to President Donald Trump after drilling equipment was brought ashore without the required government approvals, according to British media.
Bulgaria’s defence chief said on Sunday (9 August) there was no evidence that a drone, which entered the country’s airspace, was deliberately targeting Bulgaria.
Turkish Foreign Minister Hakan Fidan has raised the possibility of establishing a future joint defence framework involving countries in the South Caucasus, as Azerbaijan and Armenia move towards a final peace agreement.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment