Goods imported from Mexico and the European Union will face a 30% US tariff beginning August 1, President Donald Trump announced in a letter shared on his social media platform on Saturday. The EU had hoped to reach a comprehensive trade agreement with the US for the 27-country bloc.
Earlier this week, Trump issued new tariff announcements for a number of countries, including Japan, South Korea, Canada and Brazil, as well as a 50% tariff on copper.
Trump intensified his trade offensive recently, dispatching over 20 letters to foreign governments warning of steep new tariffs unless bilateral trade deals are secured by August 1. In April, he had announced a 10% baseline tariff on all imports, with additional duties of up to 50% targeting select countries. However, amid rising market concerns, he delayed the rollout of all tariffs until July 9.
In his letter to Mexico’s leader, Trump acknowledged that the country has been helpful in stemming the flow of undocumented migrants and fentanyl into the United States. But he said the country has not done enough to stop North America from turning into a “Narco-Trafficking Playground”.
Trump in his letter to the European Union said that the US trade deficit was a national security threat. “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,” he added.
(With inputs from agencies)