Trump announces 30% tariff on EU and Mexico, to be implemented from August 1

Bridgewater (US): President Donald Trump announced on Saturday that he is imposing a 30 percent tariff on the European Union and Mexico. Trump announced the tariffs on America’s two largest trading partners in letters posted on his social media accounts. In his letter to the Mexican leader, Trump acknowledged that Mexico has been helpful in stemming the flow of illegal immigrants and fentanyl into the US.

But he said the country has not taken sufficient steps to prevent North America from turning into a “narco-trafficking ground”. Trump said in his letter to the European Union that America’s trade deficit is a threat to national security. “We have discussed our trade relationship with the European Union for years, and we have come to the conclusion that we must do away with these long-term, large and persistent trade deficits created by your tariffs, non-tariff policies and trade barriers,” Trump wrote in the letter to the EU.