The leader of the free world says tariffs against Mexico and Canada will come into effect on April 2
3 hours ago
- Donald Trump said specific tariffs against the European Union are coming “very soon.”
- In 2023, the US imported approximately 19.7% of all exports from the bloc.
- Germany is the largest European exporter of goods to the US, totaling $157 billion.
In addition to saying that promised tariffs against Canada and Mexico will go into effect in April following a month-long pause, US President Donald Trump says he also plans to hit goods from the European Union with 25% tariffs, and this will include cars. As we’ve seen in the past, Trump’s proposed EU tariffs could be used as a negotiating tactic, or he could be serious about enforcing them.
Speaking during his first cabinet meeting, attended by many reporters, Trump said he’ll be announcing detailed EU tariffs “very soon,” noting that “it’ll be 25% generally and that will be on cars and all other things.” According to the self-proclaimed King of the US, “The European Union was formed to screw the United States – that’s the purpose of it and they’ve done a good job of it. But now I’m president.”
Read: Trump Plans 25% Tariffs On Cars And Chips On April 2
The United States is the largest export market for EU goods and, in 2023, accounted for 19.7% of all exports from the bloc, ahead of the UK, China, and Switzerland. Cars were the second-largest product group imported into the US from the EU, accounting for approximately €40 billion ($41 billion), only behind medicinal and pharmaceutical products.
Germany is the single largest European exporter of goods to the US. In 2023, goods exported from Germany to the US were valued at $157 billion, and of that figure, roughly $24.3 billion were cars. By comparison, the United States exported approximately $9 billion worth of vehicles to Germany that same year.
The European Union quickly denied Trump’s assertions it was formed to hurt the US, saying the block has actually “been a boon for the United States,” the BBC reports.
“We’re ready to partner if you play by the rules. But we will also protect our consumers and businesses at every turn. They expect no less from us.”
During the same meeting, the President said that after proposed 25% tariffs on Canada and Mexico were paused for 30 days following fierce negotiations, they are now scheduled to go into effect as planned on April 2.
