economy

May 2, 2026

Dmitriev Assesses US Tariffs on EU Cars

Kirill Dmitriev, head of the Russian Direct Investment Fund and Special Representative of the President of the Russian Federation for Investment and Economic Cooperation with Foreign Countries, noted that the introduction of new US tariffs on European cars and trucks amid the energy crisis will hit the EU's industrial sector hard. RIA Novosti, 05/02/2026

Dmitriev Assesses US Tariffs on EU Cars

TL;DR

  • New US tariffs on European cars and trucks are expected to heavily impact the EU's industrial sector.
  • The combination of US tariffs and the energy crisis is described as a 'fatal blow' to the EU's industrial sector.
  • US President Donald Trump announced plans to increase import duties on cars and trucks from the EU to 25% starting next week.

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