Trump: Tariffs on European cars and trucks coming into the US will increase to 25%

Pres. Trump on a Truth Social post says he will increase tariffs on European cars and trucks next week to 25% citing that they are not fully agreeing to the trade deal.

Stocks have come off a bit on the news but they still remain in positive territory. The US dollar has also moved modestly to the upside but remains lower on the day.

Recall that the US Supreme Court said that the initial out of tariffs were unconstitutional and would need to be paid back. That total is estimated at $160 billion. Citing a breach of a trade deal, seems to be the justification. That is despite the fact that the plants are being built in the US. Building plants takes time.

This article was written by Greg Michalowski at investinglive.com.