world

Trump Slaps 30% Tariffs On Mexico & EU | Global Trade Shock Ahead Of August 1 Deadline | N18G

U.S. President Donald Trump announced that starting August 1, 2025, a 30% tariff will be imposed on all goods imported from Mexico and the European Union. Trump cited Mexico’s failure to stop the flow of fentanyl and other narcotics as a major concern, accusing the country of not doing enough to combat drug cartels. He also criticized the EU for persistent trade deficits and protectionist policies, calling for more balanced trade. In addition to Mexico and the EU, Trump sent tariff warning letters to over 20 countries, including Japan, South Korea, and Brazil, threatening duties ranging from 20% to 50% unless new trade agreements are reached. Trump emphasized that companies from these regions could avoid tariffs by relocating manufacturing to the U.S., promising expedited approvals. The announcement sparked worries in Mexico about rising costs and economic disruption, while EU officials condemned the tariffs as unfair, pledging to continue negotiations before the August deadline.

first published: Jul 13, 2025 03:21 pm