Trump Hikes EU Car Tariffs, EU Warns of Retaliation

0:00On May 1st, President Trump just announced he's jacking up tariffs on cars and trucks from the European Union to 25 percent, starting next. Week. As a big jump from the current 15 percent rate, and he's calling it a response to the EU, not sticking to their trade deal. This all stems from a deal they hammered out last July at Trump's Turnberry Golf Course in Scotland. Back then, he backed off from threatening 30 percent tariffs in exchange for Europe investing more in the U.S. and tweaking policies to help American exports. Tensions boiled over earlier this year when Trump talked about annexing Greenland, a Danish territory. That led the European Parliament to pause approval in January, worried about threats to their turf and economic pressure. They eventually green-lit it in March, but added a clause letting them hit pause if the U.S. undermines the deal or pulls any course of moves. Now Trump's move has folks wondering if that'll trigger anything. With trade talks always a powder keg, keep an eye on how Brussels fires back.

1:01This could ripple through auto prices here at home and shake up global. Supply chains. That's the story for today. Global News Today, Driven by AI.