President Donald Trump announced plans Saturday to impose 30 percent tariffs on imports from the European Union and Mexico, escalating his administration’s efforts to reshape U.S. trade policy.
In official letters posted to Truth Social, Trump said the tariffs would take effect Aug. 1, while leaving open the possibility of reducing the rates if negotiations advance.
The move increases the EU tariff rate by 10 percentage points from a previously announced 20 percent and raises Mexico’s rate by 5 points from the 25 percent level implemented in March in response to the fentanyl crisis. (RELATED: ‘I Never Met A Tax Cut I Didn’t Like’: Kudlow Examines Possible Benefits And Pitfalls Of Trump Tariffs)
The EU and Mexico combined account for roughly one-third of all U.S. goods imports. In 2024, the U.S. imported $605 billion in goods from the EU and $505 billion from Mexico. According to trade data, the U.S. trade deficit with the EU was second only to China, with Mexico ranking third.
The letters to the EU and Mexico followed a series of similar communications sent earlier in the week to over two dozen countries, including South Korea and Japan.
Ongoing negotiations continue with both partners. Commerce Secretary Howard Lutnick indicated earlier this week that a trade agreement with the EU is currently on the president’s desk for review. Trump said that the EU “will allow complete, open Market Access to the United States,” though it’s unclear if Brussels has agreed to those terms.
In his message to Mexico, Trump criticized the country’s response to fentanyl trafficking, accusing cartels of turning the U.S. into a “Narco-Trafficking Playground.” Talks with both countries are expected to continue ahead of the Aug. 1 deadline.
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