US President Donald Trump on Saturday threatened to impose a 30% tariff on imports from Mexico and the European Union starting on August 1, after weeks of negotiations with the key U.S. allies and top trading partners failed to reach a comprehensive trade deal, APA reports citing Reuters.
In an escalation of Trump's trade war, the fresh tariffs were announced in separate letters to European Commission President Ursula von der Leyen and Mexico’s President Claudia Sheinbaum posted on Truth Social on Saturday.
The European Union and Mexico are among the largest U.S. trading partners.
Trump has sent similar letters to 23 other U.S. trading partners this week, including Canada, Japan and Brazil, setting blanket tariff rates ranging from 20% up to 50%, as well as a 50% tariff on copper.
The August 1 deadline gives countries targeted by Trump's letters time to negotiate a trade deal that could lower the threatened tariff levels.
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