Trump says finishing US study on tariffs on cars from EU

Phil Peters

Trump warns countries of retaliation over trade barriers | TheHill

The president's statement comes days after he threatened to place a 20 percent tariff on all European automobiles entering the USA and after Commerce Secretary Wilbur Ross told congressmen that the administration was beginning an investigation to check if foreign cars and auto parts threaten national security, according to The Hill.

French Finance Minister Bruno Le Maire arrives to attend a visit at the STX shipyard site in Saint-Nazaire, France, June 14, 2018.

Trump is now threatening to double down on his ill-conceived tariff battle by imposing even more tariffs on vehicles produced by the Canadian auto sector and also European car makers.

Trump's tweet comes days after he threatened to impose a 20 percent tariff on all European cars entering the U.S.

The note said: "A 25 percent tariff on imported vehicles and parts would be negative for almost every segment of the auto industry - carmakers, parts suppliers, car dealers, and transportation companies". We don't want an escalation, but we are the ones being attacked.

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When Trump imposed significant tariffs on steel and aluminum, based entirely on false data, he was warned that unfair tariffs would most certainly be met with retaliatory tariffs against American goods.

The company said on Monday it would move production of motorcycles shipped to the European Union from the United States to its worldwide facilities and forecast the retaliatory tariffs would cost the company $90-100 million a year.

"Whatever allows jobs to be created in Europe goes in the right direction".

If the United States hits us again with a 20 percent increase on cars we will respond again.

In a speech at the Nevada state GOP convention on Saturday, Trump briefly mentioned Canadian Prime Minister Justin Trudeau, calling the country's tariffs on USA products "ridiculous".