Trump says EU and Mexico face 30% tariff from August
Summary
President Donald Trump announced that starting August 1, the United States will apply a 30% tax on imports from the European Union and Mexico. If these countries respond with their own tariffs, Trump warned of increasing the import taxes even higher.Key Facts
- A 30% import tax will be applied to goods from the European Union and Mexico, starting August 1.
- Trump stated the tax could increase if the EU or Mexico retaliate.
- The announcement was shared on Trump's Truth Social website and in letters to various countries.
- Trump mentioned the large trade deficits with the EU as a reason for the new tariff.
- The European Union is the United States' largest trading partner.
- The US had a trade deficit of $235.6 billion with the EU in 2024.
- President Trump has previously imposed a 20% tariff on European goods.
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