U.S. President Donald Trump said on Tuesday the U.S. government was completing a study about increasing import tariffs on cars from the European Union and suggested it would take action soon.
“We are finishing our study of Tariffs on cars from the E.U. in that they have long taken advantage of the U.S. in the form of Trade Barriers and Tariffs. In the end it will all even out - and it won’t take very long!” Trump tweeted.
Trump on Friday threatened to impose a 20 per cent tariff on all imports of EU-assembled cars, a month after his administration launched an investigation into whether auto imports posed a national security threat.