Trump announces 30% tariffs on imports from the EU and Mexico
Trump threatens new tariffs for two key trading allies
- Donald Trump has threatened to impose 30 per cent tariffs on imports from Mexico and the European Union, effective from 1 August, following failed trade negotiations.
- The new tariffs were announced via letters on Truth Social, marking a significant escalation of Trump's trade war.
- Similar letters were sent to 23 other trading partners, including Canada and Japan, proposing tariff rates between 20 and 50 per cent, alongside a 50 per cent tariff on copper.
- The EU views these threats as a negotiating tactic, with President Ursula von der Leyen stating the bloc will take necessary steps to safeguard its interests, including countermeasures.
- Trump's letters cited fentanyl flows as a reason for tariffs on Mexico and Canada, while demanding complete market access from the EU to reduce the trade deficit.