United States President Donald Trump warned the European Union on Friday that his administration will impose tariffs on cars imported from the EU unless the union removes its own barriers. "Based on the Tariffs and Trade Barriers long placed on the U.S. and it great companies and workers by the European Union, if these Tariffs and Barriers are not soon broken down and removed, we will be placing a 20% Tariff on all of their cars coming into the U.S. Build them here!" Trump said on Twitter.
The EU imposed tariffs on around €2.8 billion worth of American products today in response to a decision taken by the US earlier to place barriers on steel and aluminum, targeting €6.4 billion of EU exports. The union stated it will rebalance the remaining €3.6 billion in three years' time or after a positive finding in WTO dispute settlement. The US will hold hearings on auto tariffs investigation on July 19-20 and decide on whether to impose protective measures.
