Trump Hikes EU Car Tariffs, Risks Global Economy

0:00It's May 1st. From your city to your ears, this is Canada News Today, powered by AI. President Trump just announced he's jacking up tariffs on cars and trucks from the European Union to 25% starting next week. He says the EU isn't sticking to their trade deal, and this could shake up the global economy right when things are shaky. This comes after a deal last July between Trump and EU leader Ursula von der Lien, which capped tariffs at 15% on most goods. They called it the Turnberry Agreement, named after his golf spot in Scotland. But the Supreme Court stepped in this year, ruling Trump couldn't use emergency powers for those tariffs, dropping them to 10%. Now his team is probing trade gaps and security issues to roll out fresh duties. That trade between the US and EU hit $1.7 trillion or $2 trillion in 2024 alone. That's $4.6 billion euros a day. The EU fired back, insisting a deal is a deal, and they expect the US to hold up its

1:01end. With investigations ongoing, this tariff hike might unravel the whole pact and hid wallets worldwide.