30% tariffs on goods from the EU and Mexico
Donald Trump announces 30% tariffs on goods from the EU and Mexico
The president made the announcement on social media, even as the EU was hoping for a trade agreement.
Donald Trump announced on Saturday that goods imported from both the European Union and Mexico will face a 30% US tariff rate starting 1 August, in letters posted on his social media platform, Truth Social.
The tariff assault on the EU came as a shock to European capitals as the European Commission and the US trade representative Jamieson Greer had spent months hammering out a deal they believed was acceptable to both sides.
The agreement in principle put on Trump’s table last Wednesday involved a 10% tariff, five times the pre-Trump tariff, which the bloc already described as “pain”.
EU trade ministers will meet on Monday for a pre-arranged summit and will be under pressure from some countries to show a tough reaction by implementing €21bn ($24.6bn) in retaliatory measures, which they had paused until midnight the same day.
n his letter to Mexico’s leader, Trump acknowledged that the country had been helpful in stemming the flow of undocumented immigrants and fentanyl into the United States.
But, he said, the country had not done enough to stop North America from turning into a “Narco-Trafficking Playground”.
“We have had years to discuss our Trading Relationship with The European Union, and we have concluded we must move away from these long-term, large, and persistent, Trade Deficits, engendered by your Tariff, and Non-Tariff, Policies, and Trade Barriers,” Trump wrote in the letter to the EU. “Our relationship has been, unfortunately, far from Reciprocal.”
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