Trump threatens 20% U.S. tariff on EU car imports

European Union to hit US with tariffs on $3.2 billion worth of imports

If the trade dispute continues or is not resolved by the WTO, the European Union could target a second batch of American exports worth around €3.7 billion ($4.3 billion).

Beijing has vowed to immediately retaliate with its own tariffs on U.S. soybeans and other farm products in a direct shot at President Donald Trump's supporters in America's heartland. The EU tariffs will target products including blue jeans, bourbon, and motorcycles, and are in a direct response to the exemptions being revoked from the US tariffs.

He said the probe alienates allies and tariffs would lead to job losses and increased costs in the US.

China is also planning to impose additional tariffs of 25% on chemical products, medical equipment and energy imported from the U.S., with a value equalling US$16bn.

The president told the European carmakers to "Build them here!" - but many European carmakers build a large percentage of their vehicles in the U.S. already, according to the EU.

European Union trade officials have described the USA tariffs on steel and aluminum - justified by the Trump administration on grounds of national security -- as "illegal".

He said Thursday that the Commerce Department hopes to complete the investigation by the end of July or August.

Meghan's father Thomas Markle breaks silence after missing wedding
He added that Meghan and Harry were very supportive after he told them he can not attend the wedding due to his surgery. The visible absence of Meghan Markle's father Thomas from the much-hyped royal wedding caught the attention of many .

In a retaliatory move, China responded with a 25% tariff on United States imports including Bourbon, which will come into play on 6 July. Beijing has vowed to immediately retaliate with its own tariffs on USA soybeans and other farm products.

Shares in BMW, Daimler, Porsche and Volkswagen each dropped more than 1%, before regaining ground.

"Of the 1.3 million German cars sold in the U.S., more than 800,000 were made on American soil". A group representing major U.S. and foreign vehicle makers has said it was "confident that vehicle imports do not pose a national security risk".

There is evidence suggesting that, for decades, imports from overseas have eroded our domestic auto industry. Automotive News data shows about 7.2 percent of vehicles sold in the United States through May were assembled in Europe. He told automakers at a White House meeting in May that he was planning tariffs on some imported vehicles.

On May 23, Trump instructed Commerce Secretary Wilbur Ross to investigate whether or not auto imports "threaten to impair the national security".

The administration has made similar threats to impose tariffs on various goods from a range of industries. It accounts for 5% of VW brand sales and 12% of Audi sales.

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