Donald Trump announced Saturday that the United States will impose 30% tariffs on imports from the European Union and Mexico starting August 1, intensifying his aggressive global trade strategy. In letters posted to Truth Social, Trump claimed the move was needed to address trade deficits and lax border enforcement.
For Europe, Trump demanded full market access for U.S. goods without reciprocal tariffs, calling it a condition for any future deal. Talks with the EU had been underway this month but are now in jeopardy.
Mexico was accused of failing to stop cartel activity despite prior cooperation. “What Mexico has done is not enough,” Trump wrote to President Claudia Sheinbaum. Notably, the administration cited fentanyl as justification for both the Mexico and Canada tariffs, even though government data shows fentanyl seizures at the Mexican border far exceed those at the Canadian border.
The tariffs follow a wave of trade letters this week, including threats of a 50% levy on Brazil and a 35% tariff on Canadian goods. Trump told NBC News he is also preparing blanket tariffs of 15%–20% on more countries.
Markets have remained stable despite the escalation, with stocks reaching new highs.
Sources:
Axios – MBFC Rating
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