President Donald Trump announced 30% new tariffs on goods from Mexico and the European Union (EU) will take effect on Aug. 1.
The announcements came in the form of letters posted to his social media platform Truth Social in mid-July. Trump said Mexico has not done enough to stop cartels from bringing drugs into the U.S., and that the EU has too large of a trade deficit with the U.S. Trump said if Mexico or the EU retaliated with their own tariffs, then “whatever the number you choose to raise them by, will be added on to the 30% that we charge.” Mexico responded to the announcement with:
“It is very significant that starting July 11, we established the necessary pathway and forum to resolve any possibility of new tariffs taking effect on August 1. In other words, Mexico has begun negotiations.” The EU said it has consistently prioritized a negotiated solution with the U.S.
“We remain ready to continue working towards an agreement by August 1,” said EU President Ursula von der Leyen. “At the same time, we will take all necessary steps to safeguard EU interests, including the adoption of proportionate countermeasures if required.”
