Trump threatens 25% tariffs on EU imports, FT reports

U.S. President Donald Trump has threatened to impose 25% tariffs on imports from the EU, saying the bloc “was formed to screw the United States,” The Financial Times’ James Politi, Kana Inagaki, and Barbara Moens report. “We have made a decision and we’ll be announcing it very soon,” Trump said during the first cabinet meeting of his second term when questioned about his plans for EU tariffs. “It’ll be 25% generally speaking, and that will be on cars and all other things.” The European Commission says the EU will react firmly and immediately against unjustified barriers to free and fair trade.” Publicly traded European carmakers include Volkswagen (VWAGY), BMW (BMWYY), Mercedes-Benz (MBGYY), and Renault (RNSDF).