Trump says he’ll hike EU auto tariffs to 25%, jolting a world economy that really didn’t need it

President Donald Trump said on Friday that he will increase the tariffs charged on cars and trucks from the European Union next week to 25%, a move that could jolt the world economy at a fragile moment.

Trump said in a social media post that the EU “is not complying with our fully agreed to Trade Deal,” though he did not flesh out his objections in the post.

Asked by reporters on Friday about the increase in import taxes as he departed the White House for Florida, Trump said the EU was not “as usual” adhering to last year’s trade framework, without detailing the source of the tension. He added that he believed the shift to higher tariffs “forces them to move their factory production much faster” to the U.S.

Trump and European Commission President Ursula von der Leyen had agreed to the trade deal last July. It set a tariff ceiling of 15% on most goods, though the Supreme Court this year ruled against the legal authority that Trump had used to charge that tax. This left Trump looking for substitute authorities, and his administration has imposed a 10% tax while investigating trade imbalances and national security issues to put in new tariffs to make up for lost revenues.

The tariffs hit at a moment when the Iran war has crushed the world economy with........

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