Trump Threatens European Cars With a 25% Tariff
President Donald Trump announced plans to raise tariffs on cars and trucks imported from the EU to 25%, up from the current 15%. This move, citing non-compliance by the EU with an August trade deal terms, triggered immediate market reactions. German automakers like Mercedes-Benz (MBG.DE), Volkswagen (VOW3.F), BMW (BMWG.DE) and Continental AG (CONGX) fell sharply on Monday.
Topics: automotive industry stock market reaction trade tensions U.S.-EU relations