Trump threatens to impose 30% tariffs on the European Union and Mexico
July 12, 202558 ViewsRead Time: 1 minutes
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US President Donald Trump threatened today, Saturday, to impose 30% tariffs on imports from Mexico and the European Union starting from August 1st after weeks of negotiations with his country's main trading partners failed to produce a comprehensive trade agreement.
Trump announced the decision that ignites the trade war through separate messages on the "Truth Social" platform to European Commission President Ursula von der Leyen and Mexican President Claudia Sheinbaum.
Trump also sent similar letters to 23 other US trading partners last week, including Canada, Japan, and Brazil, specifying comprehensive tariff rates ranging from 20 to 50%, in addition to a 50% tariff on copper.
The August 1st deadline gives the targeted countries a chance to negotiate trade agreements that could reduce the tariff rates he threatened to impose.
Trump announced the decision that ignites the trade war through separate messages on the "Truth Social" platform to European Commission President Ursula von der Leyen and Mexican President Claudia Sheinbaum.
Trump also sent similar letters to 23 other US trading partners last week, including Canada, Japan, and Brazil, specifying comprehensive tariff rates ranging from 20 to 50%, in addition to a 50% tariff on copper.
The August 1st deadline gives the targeted countries a chance to negotiate trade agreements that could reduce the tariff rates he threatened to impose.
The European Union and Mexico are among the largest trading partners of the United States.
