President Trump on Saturday introduced his administration would levy a 30 p.c tariff on items from Mexico and members of the European Union starting Aug. 1, focusing on two of the U.S.’s high buying and selling companions.
Trump posted separate letters on Fact Social to Mexican President Claudia Sheinbaum Pardo and European Fee President Ursula von der Leyen informing them of the tariff charges.
In his letter to Sheinbaum Pardo, Trump cited the movement of fentanyl throughout the southern border, which was the unique foundation for a 25 p.c tariff he imposed on Mexican items earlier this 12 months.
“Mexico has been helping me secure the border, BUT, what Mexico has done, is not enough,” the president wrote.
The U.S. had beforehand imposed a 25 p.c tariff on Mexican items, although Trump later exempted merchandise coated below the 2020 commerce settlement struck between the U.S., Canada and Mexico. It’s unclear whether or not these exemptions will nonetheless apply as of Aug. 1.
The letter to von der Leyen was centered on commerce issues. Trump has previously claimed the European Union has lengthy been unfair to the U.S. and claimed that the bloc of countries was created to “screw” America.
“We have had years to discuss our Trading Relationship with The European Union, and have concluded that we must move away from these long-term, large, and persistent, Trade Deficits, engendered by your Tariff, and Non-Tariff, Policies and Trade Barriers,” the president wrote.
U.S. Census Bureau information reveals that Mexico has been the highest buying and selling companion with the U.S. up to now this 12 months. EU members like Germany, Italy, France and the Netherlands have been additionally among the many high 15.
Trump this week has posted letters to social media despatched to greater than a dozen nations vowing to impose steep tariffs on their imports beginning Aug. 1. These tariffs are set to enter impact after an preliminary spherical of duties unveiled in April have been paused for 90 days to permit time for negotiations.
However the U.S. has solely brokered a commerce settlement with the UK in that point and introduced the framework of offers with China and Vietnam.
