President Donald Trump tweeted that he would apply a new tariff on EU-produced cars if the EU increased any barriers of entry for U.S. companies. The tweet comes as EU officials mull a policy response to Trump's recently announced tariffs on steel and aluminum, CNBC reported.
"If the E.U. wants to further increase their already massive tariffs and barriers on U.S. companies doing business there, we will simply apply a Tax on their Cars which freely pour into the U.S.," Trump tweeted.
In 2016, the EU exported more than 6 million cars, with more than 1 million going to the United States, CNBC reported, citing the European Automobile Manufacturers Association.
