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The flags of the European Union alert successful beforehand of the European Parliament.
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President Donald Trump said Saturday the U.S. volition enforce a 30% tariff connected goods from the European Union and Mexico that volition instrumentality effect connected Aug. 1.
Trump revealed the caller rates successful letters to European Commission President Ursula von der Leyen and Mexico's President Claudia Sheinbaum, which helium posted connected his societal media tract Truth Social.
"Mexico has been helping maine unafraid the border, BUT, what Mexico has done, is not enough," Trump wrote to Sheinbaum.
Trump said that determination "will beryllium nary tariff" connected goods from the EU if the 27-member bloc, "or companies wrong the EU, determine to physique oregon manufacture product[s] wrong the United States," helium wrote.
He said that if the EU oregon Mexico retaliates with higher tariffs, "then, immoderate the fig you take to rise them by, volition beryllium added connected to the 30% that we charge."
The EU was seeking astatine slightest a preliminary statement that would spare it from becoming the latest recipient of a missive from Trump dictating a new, across-the-board tariff connected its exports to the U.S.
The EU collectively sells much to the U.S. than immoderate different country: Total U.S. goods imports from the EU topped $553 cardinal successful 2022, according to the Office of the U.S. Trade Representative.
However, it inactive managed to unafraid one, contempt some sides having precocious signaled advancement successful their negotiations aft Trump backed disconnected a menace to slap 50% tariffs connected the bloc.
Trump has sent akin letters to 23 different U.S. trading partners this week, including Canada, Japan and Brazil, mounting broad tariff rates ranging from 20% up to 50%.
The letters mostly framework the caller tariff levels arsenic a indispensable portion of the Trump administration's efforts to rapidly found a much "reciprocal" planetary commercialized landscape.
Trump had attempted to bash that successful 1 fell swoop with his "liberation day" tariff announcement connected April 2, erstwhile helium imposed a astir planetary 10% tariff and slapped higher duties connected imports from astir 60 idiosyncratic countries.
The announcement prompted days of frenzied selling successful planetary markets. Trump enactment a 90-day intermission connected astir each of the higher tariffs a week later.
His commercialized officials suggested that the U.S. could onslaught arsenic galore arsenic 90 caller commercialized deals during that interval. But by the clip the intermission was acceptable to expire connected Wednesday, the medication had lone hashed retired preliminary agreements with the United Kingdom and Vietnam.
Trump connected Monday extended that tariff intermission until Aug. 1. The tariff rates helium acceptable successful his caller spate of letters are each scheduled to footwear successful connected the aforesaid day.
Trump told NBC News connected Thursday that helium plans to ratchet up his planetary tariff baseline complaint arsenic precocious arsenic 20%.
"We're conscionable going to accidental each of the remaining countries are going to pay, whether it's 20% oregon 15%. We'll enactment that retired now," Trump said.
This is breaking news. Please cheque backmost for updates.
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