President Donald Trump has announced plans to impose a hefty 30% tariff on imports from the European Union (EU) and Mexico starting August 1. He cautioned that he would escalate the tariffs further if either trading partner retaliated.
The 27-member EU expressed hope for a resolution to be reached before the tariff’s implementation date. Meanwhile, Trump has also indicated new tariffs on goods from Japan, South Korea, Canada, and Brazil. In communications with EU Commission President Ursula von der Leyen, he emphasized the need to rectify long-standing trade imbalances, citing “non-reciprocal” trading practices.
In case of retaliatory measures from either Europe or Mexico, Trump indicated he would increase tariffs further beyond the initial 30%. The EU has been a frequent target of Trump’s trade rhetoric; previously, he threatened tariffs of up to 50% as negotiations stalled.
Von der Leyen affirmed the EU’s commitment to working toward an agreement before the deadline, emphasizing the bloc’s adherence to fair trade practices. Leaders like France’s Emmanuel Macron and Italy’s Giorgia Meloni have voiced strong opposition to Trump’s tariff proposals, calling for unity and a fair resolution to avoid a transatlantic trade war.
Mexican leaders, while critical of the tariffs, remain optimistic about reaching a satisfactory agreement, maintaining that the sovereignty of their nation will not be compromised in negotiations.
Source: www.bbc.com
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