President Donald Trump announced on Saturday sweeping new tariffs of 30% on goods imported from the European Union and Mexico, set to take effect on August 1. The decision was outlined in letters sent to European Commission President Ursula von der Leyen and Mexican President Andrés Manuel López Obrador, which Trump shared on his Truth Social platform.
The move marks a significant escalation in Trump’s ongoing effort to reshape global trade in what he calls a push for “reciprocal” agreements. He warned that any retaliatory tariffs from the EU or Mexico would be matched — or exceeded — by the U.S.
The EU and Mexico are two of the United States’ largest trading partners, together accounting for roughly one-third of all U.S. imports. In 2022, U.S. goods imports from the EU totaled over \$553 billion, while imports from Mexico reached nearly $455 billion.
The new tariffs arrive amid stalled trade negotiations. Despite some recent progress, the EU still received notice of the tariffs. Von der Leyen said the new duties would disrupt critical transatlantic supply chains and warned of potential countermeasures.
Mexico’s government also expressed disappointment, calling the tariffs unfair and noting that a newly established bilateral working group had been created to resolve trade disputes. Mexican officials said they were notified of the tariffs during a Friday meeting with U.S. trade representatives.
The 30% duties are part of a broader tariff campaign. This week alone, Trump issued letters to 23 additional countries — including Canada, Japan, and Brazil — imposing new tariff rates ranging from 20% to 50%.
Earlier this year, Trump unveiled a near-universal 10% tariff plan, which was met with sharp reactions from global markets and a temporary 90-day pause. That pause, now extended to August 1, is when all newly announced tariffs are scheduled to take effect.
Only the United Kingdom and Vietnam have reached preliminary agreements with the U.S. ahead of the deadline. Trump has signaled more global tariffs are coming soon, possibly setting a new minimum threshold of 15–20% for all remaining countries.
Source: CNBC