European Union regrets Donald Trump’s automotive tariffs: EU chief

European Fee president Ursula von der Leyen expressed deep regrets about america’ determination to impose tariffs on imported European automobiles.

Von der Leyen’s remarks got here as US President Donald Trump signed an govt order on Wednesday to levy a 25 per cent tariff on automotive imports beginning 2 April.

“The automotive business is a driver of innovation, competitiveness and high-quality jobs, with deeply built-in provide chains on each side of the Atlantic,” von der Leyen mentioned in an announcement.

She added that tariffs “are unhealthy for companies, worse for shoppers” in each america and the European Union (EU).

“We are going to now assess this announcement, along with different measures the US is envisaging within the coming days,” she mentioned, noting the bloc would proceed to hunt negotiated options whereas defending its financial pursuits, Xinhua information company reported.

President Trump raised tariffs on imported cars and components to 25 per cent and indicated that the reciprocal tariff system that goes into impact on 2 April will likely be “lenient”.

The brand new tariff will go into impact on 2 April, a day Trump likes to name the “Liberation Day”, when the reciprocal tariff system kicks in.

“We’re going to cost nations for doing enterprise in our nation and taking our jobs, taking our wealth, taking quite a lot of issues that they have been taking over time,” Trump mentioned in remarks from the Oval Workplace on Wednesday.

“What we’ll be doing is (levy) a 25 per cent tariff on all automobiles that aren’t made in america. In the event that they’re made in america, there’s completely no tariff.”

The brand new tariff will apply to all automobiles and vans assembled exterior and shipped to the US, which accounts for half of all cars bought within the US.