Trump proclaims ‘America’s victory’ as Europe celebrates VE Day
President Donald Trump proclaimed May 8th as Victory Day to celebrate “America’s victory.”
WASHINGTON ― President Donald Trump said in the Oval Office May 8 that he made a special exception for the United Kingdom by lowering tariffs on automobiles to help high-end British auto manufacturers such as Rolls-Royce, Bentley and Jaguar that produce vehicles in the United Kingdom.
“It’s a very special car, and it’s very limited number, too,” Trump said of Rolls-Royce vehicles, which sell for between $350,000 and $520,000 for new models. “It’s not one of the monster car companies that makes millions of cars. They make a very small number of cars that are super luxury.”
In his much-touted trade agreement with the U.K. announced May 8, Trump kept a 10% baseline tariff on British products imported to the United States. But he lowered 25% universal tariffs on automobiles from the U.K. to 10%, while the 25% rate still applies to vehicles from other countries. Trump also agreed to eliminate 25% tariffs on steel from the U.K.
Trump has argued steep tariffs on automobiles are needed to help rejuvenate the U.S. auto industry, but he said luxury British vehicles fall in a different category.
“That’s really handmade stuff. They’ve been doing it for a long time in the same location,” he said. “So I said, ‘Yeah, that would be good. Let’s help them out with that one.’”
Trump added: “But that’s different than a car company that comes out and makes millions of cars.”
As part of the still-evolving U.S.-UK. trade pact, Trump also said the U.K. has agreed to reduce certain tariffs on U.S. exports. Trump said other details still need to be worked out.
Trump said he will “rarely” make the same tariff reductions on automobiles during negotiations with other countries. Trump officials have cited substantive trade negotiations with 17 countries, including the U.K., and plan to kick off high-stakes talks with China this weekend in Geneva.
Reach Joey Garrison on X @joeygarrison.