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cnbc_topnews may 01, 2026

Trump says he's raising EU auto tariffs to 25% without clarifying how

Trump announces raising EU auto tariffs to 25% without clarifying how.

impact+0.90 sentiment-0.60 n=3
trump said on truth social friday he'll raise tariffs on eu cars and trucks to 25% next week. he didn't say what legal authority he'd use. the supreme court ruled in february that his earlier iiepa tariff approach was illegal — the law "does not authorize the president to impose tariffs," the 6-3 majority wrote. trump already has 25% tariffs on vehicles and auto parts under section 232, citing national security. after the court ruling, he signed an executive order for a new 10% "global tariff" under section 122 of the trade act of 1974, which has a 150-day time limit. he later said he'd raise that global rate to 15%. the eu had warned in february its trade deal with the u.s. could be in jeopardy after the new tariff rate was announced, postponing a planned vote on the agreement. mercedes, bmw and volkswagen import a large share of their u.s.-sold vehicles from european plants.
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