WASHINGTON DC: President Donald Trump has declared that the United States will impose a 30% tariff on imports from the European Union and Mexico beginning August 1.
He also warned that if either trading partner retaliates with their own tariffs, the US would respond by increasing its tariffs even further, BBC reported.
Earlier this week, the 27-member European Union expressed hope of reaching a trade agreement with Washington before the August deadline.
Trump also announced new tariffs starting August 1 on imports from Japan, South Korea, Canada, and Brazil, with similar notices sent to several smaller US trade partners.
In a letter sent on Friday to European Commission President Ursula von der Leyen, Trump stated that after years of negotiations, the US must address persistent and large trade deficits caused by EU tariffs and trade barriers. He criticized the trade relationship as being far from reciprocal.
In letters to both the EU and Mexico, Trump warned that any retaliatory tariffs against the US would prompt him to raise American tariffs by an equivalent percentage above the 30% rate.
The EU has frequently been targeted by Trump’s trade policies. On April 2, he proposed a 20% tariff on goods from the bloc and several other trading partners, later threatening to raise EU tariffs to 50% amid stalled negotiations. Talks between Washington and Brussels aimed at an agreement by July 9 have yet to yield results.
In 2024, the US trade deficit with the EU reached $235.6 billion (€202 billion; £174 billion), according to the US Trade Representative’s office.
Von der Leyen affirmed the EU’s readiness to continue working toward a deal by August 1. She highlighted the EU’s openness and commitment to fair trade, adding that the bloc will take all necessary steps, including proportional countermeasures if needed, to protect its interests.
(Inputs from BBC)
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