09:44:27 EDT Mon 04 May 2026
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Volkswagen CDR (CAD Hedged)
Symbol VWA
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Close 2026-05-01 C$ 9.19
Market Cap C$ 735,200
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Globe/AP say BMW, rivals hit with more Trump tariffs

2026-05-04 06:19 ET - In the News

See In the News (C-BMW) BMW CDR (CAD Hedged)

The Globe and Mail reports in its Saturday, May 2, edition that President Donald Trump is boosting tariffs on cars and trucks from the European Union to 25 per cent this week. An Associated Press dispatch to The Globe reports that Mr. Trump claimed the EU is not complying with the agreed trade deal, though he provided no specific details. He suggested that the higher tariffs would prompt the EU to accelerate moving production to the U.S. Mr. Trump and European Commission President Ursula von der Leyen agreed to a trade deal last July, setting a 15-per-cent tariff ceiling on most goods. However, the United States Supreme Court ruled against the legal authority Mr. Trump used to impose that tax. In response, his administration has implemented a 10-per-cent tax while investigating trade imbalances and national security to establish new tariffs to compensate for lost revenues. The European Parliament is slowly finalizing last year's trade agreement, expected to be completed next month. The EU said it is following standard legislative practices and will consider options to protect its interests if the U.S. takes inconsistent measures. AP says officials are mum on why Mr. Trump claimed the agreement was violated.

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