Trump says 30-percent tariffs against EU and Mexico to begin on August 1
Summary
United States President Donald Trump announced a 30-percent tariff on goods from Mexico and the European Union, starting August 1, citing issues like migration, drugs, and trade imbalances. These tariffs are part of a broader set of trade measures with several countries, which he disclosed after negotiations failed to yield new trade deals.Key Facts
- Trump imposed a 30-percent tariff on Mexican and European Union imports starting August 1.
- He announced the tariffs due to migration and drug issues with Mexico and trade imbalance with the EU.
- Other announced tariffs include a 50-percent tariff on copper and higher tariffs on over 20 countries, including Japan, South Korea, Canada, and Brazil.
- Goods entering under the US-Mexico-Canada Agreement are not affected by the new tariffs.
- EU President Ursula von der Leyen stated the EU might take countermeasures and is open to further negotiations.
- The EU's existing 10-percent tariff rate increase was delayed until August 1.
- Germany and France within the EU have different views on how to respond to the tariffs.
- The US government increased its customs duties revenue significantly, surpassing $100 billion in the fiscal year.
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