Sign up for a daily newsletter defining what matters in business and markets

Stories

Trump threatens additional tariffs on EU

President Trump took to Twitter and threatened to place a 20% tariff on car imports coming from the European Union if the union didn't remove the $3.2 billion in tariffs recently placed on the United States.

Be smart: Europe exported six million cars in 2016 and 16% went to U.S., per CNBC. That same year, the United States exported $11.8 billion in cars to Europe, per the Observatory of Economic Complexity. German automakers represented 8% of U.S. car sales in 2017 with 1.35 million sold, per CNN, but only 494,000 of those were exported from Germany.

Donald Trump