US President Trump: I will be increasing tariffs on vehicles imported from the European Union

Agustin Wazne FXStreet

Donald Trump, United States President, announced on Friday through Truth Social a new round of tariffs on the European Union (EU) for cars and trucks.

I am pleased to announce that, because the European Union is not complying with our fully agreed-upon Trade Deal, next week I will be increasing tariffs on cars and trucks imported into the United States from the European Union. The Tariff will be increased to 25%. It is fully understood and agreed that, if they produce Cars and Trucks in the USA. Plants, there will be NO TARIFF. Many Automobile and Truck Plants are currently under construction, with over 100 Billion Dollars being invested, A RECORD in the History of Car and Truck Manufacturing. These Plants, staffed with American Workers, will be opening soon. There has never been anything like what is happening in America today! Thank you for your attention to this matter.”

Market Reaction:

The US Dollar (USD) is relatively unchanged near the 98.00 price zone after President Trump announced the 25% tariff increase on EU vehicles.

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.14%	-0.04%	0.14%	0.00%	-0.19%	-0.07%	-0.21%
EUR	0.14%		0.09%	0.29%	0.16%	-0.05%	0.05%	-0.07%
GBP	0.04%	-0.09%		0.19%	0.07%	-0.15%	-0.04%	-0.14%
JPY	-0.14%	-0.29%	-0.19%		-0.14%	-0.35%	-0.26%	-0.36%
CAD	-0.01%	-0.16%	-0.07%	0.14%		-0.21%	-0.10%	-0.20%
AUD	0.19%	0.05%	0.15%	0.35%	0.21%		0.11%	0.02%
NZD	0.07%	-0.05%	0.04%	0.26%	0.10%	-0.11%		-0.10%
CHF	0.21%	0.07%	0.14%	0.36%	0.20%	-0.02%	0.10%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

Author

Agustin Wazne

FXStreet

Agustin Wazne joined FXStreet as a Junior News Editor, focusing on Commodities and covering Majors.

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