Trump Announces EU Auto Tariffs Increase to 25%
Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly.TARIFFS:President Donald Trump said via Truth Social, "I am pleased to announce that, based on the fact the European Union is not complying with our fully agreed to Trade Deal, next week I will be increasing Tariffs charged to the European Union for Cars and Trucks coming into the United States. The Tariff will be increased to 25%. It is fully understood and agreed that, if they produce Cars and Trucks in U.S.A. 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. President DONALD J. TRUMP" Publicly traded companies in the space include Ford, General Motors, Honda, Lucid Group, Mercedes-Benz, Nissan, Rivian, Stellantis, Tesla, Toyotaand Volkswagen.STRAIT OF HORMUZ:President Trumpin social media, "Countries from all over the World, almost all of which are not involved in the Middle Eastern dispute going on so visibly, and violently, for all to see, have asked the United States if we could help free up their Ships, which are locked up in the Strait of Hormuz, on something which they have absolutely nothing to do with - They are merely neutral and innocent bystanders! For the good of Iran, the Middle East, and the United States, we have told these Countries that we will guide their Ships safely out of these restricted Waterways, so that they can freely and ably get on with their business. Again, these are Ships from areas of the World that are not in any way involved with that which is currently taking place in the Middle East. I have told my Representatives to inform them that we will use best efforts to get their Ships and Crews safely out of the Strait. In all cases, they said they will not be returning until the area becomes safe for navigation, and everything else. This process, Project Freedom, will begin Monday morning, Middle East time. I am fully aware that my Representatives are having very positive discussions with the Country of Iran, and that these discussions could lead to something very positive for all. The Ship movement is merely meant to free up people, companies, and Countries that have done absolutely nothing wrong - They are victims of circumstance. This is a Humanitarian gesture on behalf of the United States, Middle Eastern Countries but, in particular, the Country of Iran. Many of these Ships are running low on food, and everything else necessary for largescale crews to stay on board in a healthy and sanitary manner. I think it would go a long way in showing Goodwill on behalf of all of those who have been fighting so strenuously over the last number of months. If, in any way, this Humanitarian process is interfered with, that interference will, unfortunately, have to be dealt with forcefully."TROOPS IN GERMANY:The Pentagon intends to pull roughly 5,000 American troops from Germany, CBS News' Jennifer Jacobs, citing senior defense officials. The officials described the move as a signal of President Donald Trump's lack of satisfaction with the level of assistance European allies have offered to the U.S. in its war with Iran, Jacobs says. Over 36,000 active duty soldiers were assigned to bases throughout Germany as of last December, along with nearly 1,500 reservists and 11,500 civilians, Jacobs notes.BUSINESS MIX CHALLENGE:Kevin McGurn faces a challenge as the new head of Trump Media & Technology Group, namely figuring out how to package the company's odd mix of business ventures, The Wall Street Journal's Jennifer Hiller. McGurn is a longtime media executive and adviser who took over last week as interim chief executive of the company, best known as the parent of Truth Social, President Trump's social-media platform. Launched after Trump's ban from Twitter in 2021, Trump Media's businesses span social media, cryptocurrency and most recently, a $6B bet on nuclear fusion, the author notes. "Having those two businesses together or apart will be both options that we weigh, and I think we will pick the best path, but currently, the one that we're pursuing is the spinout," McGurn said in his first interview as interim CEO.
