US President Donald Trump has announced a 30% tariff on imports from the EU and Mexico from August 1. He has warned that if any of the US's trading partners retaliate, he will impose even higher tariffs.
The 27-member EU is the US's biggest trading partner. Earlier this week, the EU had expressed hope of reaching a deal with the US before August 1.
Trump has also said this week that the US will impose new tariffs on goods coming from Japan, South Korea, Canada and Brazil from August 1. Similar letters have been sent to many other US trading partners this week.
The new tariffs were announced in separate letters posted on Truth Social. In his letter to the European Union, Trump said the U.S. trade deficit was a national security threat.
27-member EU is America’s biggest trading partner
The announcement came after weeks of negotiations with key trading allies failed to produce a more comprehensive trade deal. The 27-member EU, America’s biggest trading partner, said earlier this week it hoped to reach a deal with Washington before August 1.
Earlier this week, Trump announced new tariffs on several countries, including Japan, South Korea, Canada, and Brazil, as well as a 50 percent tariff on copper.