Reported about 9 hours ago
President Trump announced a 30% tariff on imports from Mexico and the European Union, effective August 1, following unsuccessful trade negotiations. The tariff threat is part of a wider strategy targeting multiple trading partners, including Canada and Japan, with rates ranging from 20% to 50%. EU officials indicated the tariffs could harm transatlantic supply chains, while Trump perceived them as leverage to secure concessions from Europe, including a reduction in their tariffs. The situation reflects ongoing tensions in international trade relations, with the U.S. aiming to address its trade deficit.
Source: YAHOO