The President of the United States rejected an offer made by the European Union that proposing the withdraw of tariffs on cars if the U.S. did the same. That rejection came after an interview with Bloomberg on Thursday.EU Trade Commissioner Cecilia Malmstrom told the European Parliament's trade committee that the EU is "willing to bring down even our car tariffs to zero, all tariffs to zero if the U.S. does the same “Later that day. President Trump stated that the offer is "not good enough," and added that European "consumer habits are to buy their cars, not to buy our cars."
At the moment, the U.S. imposes a 25% tariff on pickups and light trucks and 2.5% to smaller cars. On the other hand, the EU imposes a 10% tariff on all passenger vehicles. Last month, European automotive stocks fell after the president Trump met with European Commission President, The two leaders promised that they will try to work on eliminating tariffs for non-auto industrial goods. On Thursday Malmstrom's statement took a step forward than Trump and Juncker's agreement, and that caused European auto stocks to jump up in the beginning before giving again their gains. Interview President Trump also said that the EU is "almost as bad as China, just smaller." And he added that he continues to supports tariffs on an additional $200 billion in Chinese.