Trump announces shocking new tariffs for European Union and Mexico that will have a major impact
Topics: Donald Trump, Europe, News, US News, World News
Gerrard Kaonga
Featured Image Credit: Win McNamee/Getty
Topics: Donald Trump, Europe, News, US News, World News
Donald Trump will likely have some pushback from the European Union and Mexico after announcing a major new tariff for both over Truth Social.
Trump has been on a tariff warpath for some time and they have had less than favorable results for some people in the US.
Earlier this year, Trump announced a series of new tariffs on countries across the globe.
Alongside slapping a 25 percent tariff on all foreign-made automobiles and a baseline 10 percent tariff on all countries - except those compliant with the USMCA free trade agreement between Mexico, Canada and the US - Trump is charging non-compliant countries 25 percent, with UK imports at 10 percent, and EU goods at a 20 percent tariff.
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In a new post on Truth Social on July 12, Trump made it clear that he still had a bone to pick with the European Union and Mexico, two of the nation's most regular trading partners.
Trump shared letters on his Truth Social page and announced that the EU and Mexico will face 30 percent US tarifs.
In his letter to the EU, Trump wrote: “We have had years to discuss our Trading Relationship with The European Union, and we have concluded we must move away from these long-term, large, and persistent, Trade Deficits, engendered by your Tariff, and Non-Tariff, Policies, and Trade Barriers.
“Our relationship has been, unfortunately, far from Reciprocal.”
This has been a major talking point since Trump announced he would be introducing tariffs, arguing he wanted to get the best possible deal for America and Americans.
In his letter to Mexico, Trump did say the nation had been helping him stop the flow of undocumented migrants and fentanyl into the United States but more still needed to be done.
He wrote: “Mexico has been helping me secure the border. BUT, what Mexico has done, is not enough.”
The EU was reportedly hoping to strike a comprehensive trade agreement but according to an Independent report the talks have proven to be difficult.
The bloc is also expected to push for more talks to take place before August 1, in hopes a mutually beneficial agreement can be reached.
As well as this shock move, Trump has been busy when it comes to other nations as well.
Earlier this week, he issued new tariff announcements for a number of countries, including Japan, South Korea, Canada and Brazil, as well as a 50% tariff on copper.