Donald Trump has introduced he’ll impose a 30% tariff on imports from the European Union from 1 August.
The tariffs may make the whole lot from French cheese and Italian leather-based items to German electronics and Spanish prescription drugs costlier within the US.
Mr Trump has additionally imposed a 30% tariff on items from Mexico, based on a submit from his Fact Social account.
Saying the strikes in separate letters posted on his account, the president mentioned the US commerce deficit was a nationwide safety risk.
In his letter to the EU, he wrote: “We’ve had years to debate our buying and selling relationship with The European Union, and we now have concluded we should transfer away from these long-term, massive, and chronic, commerce Deficits, engendered by your tariff, and non-Tariff, insurance policies, and commerce boundaries.
“Our relationship has been, unfortunately, far from reciprocal.”
In his letter to Mexico, Mr Trump mentioned he didn’t suppose the nation had accomplished sufficient to cease the US from turning right into a “narco-trafficking playground”.
The president of the European Fee, Ursula von der Leyen, mentioned the EU may undertake “proportionate countermeasures” if the US proceeds with imposing the 30% tariff.
Ms von der Leyen, who heads the EU’s govt arm, mentioned in an announcement that the bloc remained prepared “to continue working towards an agreement by Aug 1”.
“Few economies in the world match the European Union’s level of openness and adherence to fair trading practices,” she added.
“We will take all necessary steps to safeguard EU interests, including the adoption of proportionate countermeasures if required.”
‘Very concerning’
Ms von der Leyen has additionally mentioned imposing tariffs on EU exports would “disrupt essential transatlantic supply chains”.
In the meantime, Dutch Prime Minister Dick Schoof mentioned on the X social media platform that Mr Trump’s announcement was “very concerning and not the way forward”.
He added: “The European Commission can count on our full support. As the EU we must remain united and resolute in pursuing an outcome with the United States that is mutually beneficial.”
Mexico’s economic system ministry mentioned a bilateral working group goals to achieve a substitute for the 30% US tariffs earlier than they’re as a consequence of take impact.
The nation was knowledgeable by the US that it could obtain a letter concerning the tariffs, the ministry’s assertion mentioned, including that Mexico was negotiating.
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How ‘liberation day’ unfolded
Trump’s tariff threats and delays
On his so-called “liberation day” in April, Mr Trump unleashed “reciprocal tariffs” on a lot of America’s commerce companions.
The US president mentioned he was focusing on nations with which America had a commerce imbalance.
Nonetheless, since then he has backed down in a spiralling tit-for-tat tariff face-off with China, and struck a cope with the UK.
The US imposed a 20% tariff on imported items from the EU in April nevertheless it was later paused and the bloc has since been paying a baseline tariff of 10% on items it exports to the US.
In Might, whereas the US and EU the place holding commerce negotiations, Mr Trump threated to impose a 50% tariff on the bloc as talks didn’t progress as he would have preferred.
Nonetheless, he later introduced he was delaying the imposition of that tariff whereas negotiations over a commerce deal passed off.
Earlier this week, the EU’s govt fee, which handles commerce points for the bloc’s 27-member nations, mentioned its leaders had been nonetheless hoping to strike a commerce cope with the Trump administration.
With out one, the EU mentioned it was ready to retaliate with tariffs on a whole lot of American merchandise, starting from beef and auto elements to beer and Boeing aeroplanes.
