Trump Imposes 30% Tariffs on Mexico and EU Goods, Raising Pressure for Trade Deals
United States President Donald Trump has announced a significant increase in tariffs on goods from Mexico and the European Union, intensifying his trade war efforts.
President Donald Trump of the United States has confirmed that as of August 1st, both Mexico and the European Union will face a 30% tariff on their goods entering the US market.
This decision comes amid ongoing trade disputes and negotiations with these major trading partners.
The tariffs are intended to address issues such as the flow of illicit drugs from Mexico into the United States and a reported trade imbalance with the EU.
Notably, products entering under the terms of the US-Mexico-Canada Agreement (USMCA) will be exempted from these tariffs.
Previously, Canada had also received notice of a 35% tariff on its goods.
The EU's tariff rate is notably higher than the 20% previously mentioned by Trump, as negotiations with the bloc continue.
Originally scheduled to increase to 10%, the tariff level for the EU has been postponed until August 1st due to recent developments.
This move follows similar letters sent to over 20 countries this week, each detailing new tariffs implemented by Trump.
This decision comes amid ongoing trade disputes and negotiations with these major trading partners.
The tariffs are intended to address issues such as the flow of illicit drugs from Mexico into the United States and a reported trade imbalance with the EU.
Notably, products entering under the terms of the US-Mexico-Canada Agreement (USMCA) will be exempted from these tariffs.
Previously, Canada had also received notice of a 35% tariff on its goods.
The EU's tariff rate is notably higher than the 20% previously mentioned by Trump, as negotiations with the bloc continue.
Originally scheduled to increase to 10%, the tariff level for the EU has been postponed until August 1st due to recent developments.
This move follows similar letters sent to over 20 countries this week, each detailing new tariffs implemented by Trump.
