Trump Targets EU and Mexico with New Tariff Blitz

President Trump announced new 30% tariffs on the EU and Mexico as part of his 2024 campaign, citing economic exploitation. This move aligns with his broader tariff strategy against other nations aimed at reviving the US economy. The EU and Mexico are contemplating responses to safeguard their trade interests.

President Donald Trump, on Saturday, unveiled a new wave of tariffs, imposing a 30% levy on imports from the European Union and Mexico starting August 1. This significant policy shift is a cornerstone of his 2024 campaign, aimed at addressing perceived economic imbalances he believes have long disadvantaged the United States.

In correspondence shared on social media, Trump justified his decision by emphasizing the need to address trade deficits and secure national security. Despite acknowledging Mexico's efforts against illegal immigration and drug trafficking, he deemed them insufficient, while warning the EU about persistent trade imbalances.

The European Union, through its Commission President Ursula von der Leyen, signaled readiness for dialogue but warned of reciprocal countermeasures. The Mexican government has similarly expressed concern, as the potential tariffs could replace the current 25% rate imposed on non-compliant imports under the USMCA agreement.

(With inputs from agencies.)