EU warns U.S. of major hit if car tariffs imposed
Source: Reuters
BRUSSELS (Reuters) - The European Union has warned the United States that imposing import tariffs on cars and car parts would harm its own automotive industry and likely lead to counter-measures by its trading partners on $294 billion of U.S. exports.
In a 10-page submission to the United States Commerce Department sent last Friday, the European Union said tariffs on cars and car parts were unjustifiable and did not make economic sense.
The Commerce Department launched its investigation, on grounds of national security, on May 23 under instruction from President Donald Trump, who has repeatedly criticized the EU over its trade surplus with the United States and for having higher import duties on cars. The EU has a 10 percent levy, compared to 2.5 percent for cars entering the United States.
Trump said last week that the government was completing its study and suggested the United States would take action soon, having earlier threatened to impose a 20 percent tariff on all EU-assembled cars.
Read more: https://www.reuters.com/article/us-usa-trade-eu/eu-warns-u-s-of-major-hit-if-car-tariffs-imposed-idUSKBN1JS0R9?utm_campaign=trueAnthem%3A+Trending+Content&utm_content=5b39ef7104d301393b664d87&utm_medium=trueAnthem&utm_source=facebook
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The new car you had your eye on (if it still exists that is) just went up another $5K!
Whoopie (not!). 
First there is VAT at 25% on base price. On top of this the registration tax is then 85% of the value up to around 30.000$ and then 150% for above. Electric cars are taxed much lower.
But in return, we are only exporting a handful of homemade cars - like this one:
