President Donald Trump mentioned Saturday the U.S. will impose a 30% tariff on items from the European Union and Mexico that can take impact on Aug. 1.

Trump revealed the brand new charges in letters to European Fee President Ursula von der Leyen and Mexico’s President Claudia Sheinbaum, which he posted on his social media web site Reality Social.

“Mexico has been helping me secure the border, BUT, what Mexico has done, is not enough,” Trump wrote to Sheinbaum.

Trump mentioned that there won’t be tariffs on items from the EU if the 27-member bloc, “or companies within the EU, decide to build or manufacture product[s] within the United States,” he wrote.

He mentioned that if the EU or Mexico retaliates with increased tariffs, “then, whatever the number you choose to raise them by, will be added on to the 30% that we charge.”

The EU was searching for a minimum of a preliminary settlement that may spare it from turning into the newest recipient of a letter from Trump dictating a brand new, across-the-board tariff on its exports to the U.S.

Nonetheless, it nonetheless obtained a letter from Trump threatening new tariffs, regardless of each side having not too long ago signaled progress of their negotiations after Trump backed off a menace to slap 50% tariffs on the bloc.

The EU collectively sells extra to the U.S. than any single nation: Whole U.S. items imports from the EU topped $553 billion in 2022, in response to the Workplace of the U.S. Commerce Consultant.

Whole U.S. imports from Mexico was roughly $454.8 billion in 2022, in response to the U.S. Commerce Consultant.

“Imposing 30 percent tariffs on EU exports would disrupt essential transatlantic supply chains, to the detriment of businesses, consumers and patients on both sides of the Atlantic,” von der Leyen mentioned in a assertion.

She mentioned the EU stays “ready to continue working towards an agreement by August 1.”

“At the same time, we will take all necessary steps to safeguard EU interests, including the adoption of proportionate countermeasures if required.”

Trump has despatched related letters to 23 different U.S. buying and selling companions this week, together with Canada, Japan and Brazil, setting blanket tariff charges starting from 20% as much as 50%.

The letters largely body the brand new tariff ranges as a essential a part of the Trump administration’s efforts to rapidly set up a extra “reciprocal” world commerce panorama.

Trump had tried to try this in a single fell swoop together with his “liberation day” tariff announcement on April 2, when he imposed an almost world 10% tariff and slapped increased duties on imports from practically 60 particular person nations.

The announcement prompted days of frenzied promoting in world markets. Trump put a 90-day pause on practically the entire increased tariffs every week later.

His commerce officers recommended that the U.S. might strike as many as 90 new commerce offers throughout that interval. However by the point the pause was set to run out on Wednesday, the administration had solely hashed out preliminary agreements with the UK and Vietnam.

Trump on Monday prolonged that tariff pause till Aug. 1. The tariff charges he set in his current spate of letters are all scheduled to kick in on the identical day.

Trump advised NBC Information on Thursday that he plans to ratchet up his world tariff baseline fee as excessive as 20%.

“We’re just going to say all of the remaining countries are going to pay, whether it’s 20% or 15%. We’ll work that out now,” Trump mentioned.

That is breaking information. Please test again for updates.