EU says it's ready to hit back if U.S. imposes car tariffs

Associated Press
Friday, Feb. 22, 2019 11:04 a.m. | Friday, Feb. 22, 2019 11:04 a.m.

If 25 percent tariffs are fully assessed against imported parts and vehicles, and they include Canada and Mexico, the price of imported vehicles would rise more than 17 percent, or around $5,000 each, according to forecasts from IHS Markit.

BUCHAREST, Romania — A European Union official says “there is full support” from member states to hit back if President Donald Trump imposes tariffs on cars and car parts.

EU Trade Commissioner Cecilia Malmstrom said EU trade ministers had discussed the bloc’s trading relationship with Washington during an informal meeting Friday in Bucharest.

She said there were concerns about “certain aspects of the trade policy being pursued by the current U.S. administration.”

Trump says the U.S. is mulling tariffs on imported vehicles from Europe, suggesting a final decision will hinge on the two sides reaching a trade deal in the coming months

Malmstrom said the EU was preparing a list of “rebalancing measures,” if tariffs were levied.

She said: “There is full support to do this.”