President Donald Trump has announced a 30 percent tariff on imports from the European Union and Mexico, to go into effect on Aug. 1, a deadline that applies to a bevy of reciprocal tariffs that Trump said he’s imposing on many of America’s trading partners to address long-running trade imbalances and other factors.
In letters posted on social media on July 12, Trump said that the two trading partners had for years imposed various tariffs and non-tariff trade barriers on the United States and that the duties they now face seek to correct that imbalance.
The U.S. president said that both the European Union (EU) and Mexico would face higher levies if they retaliate by raising their trade barriers against America. He highlighted the need to lower or eliminate U.S. trade deficits with both trading partners as a matter of economic and national security….
Trump Announces 30 Percent Tariff on EU, Mexico
