US Imposes 30% Tariffs on EU, Mexico from August 1, EU Prepares Retaliation
US Imposes 30% Tariffs on EU, Mexico from August 1, EU Prepares Retaliation

US Imposes 30% Tariffs on EU, Mexico from August 1, EU Prepares Retaliation

News summary

US President Donald Trump has announced the imposition of tariffs of up to 30% on imports from the European Union and up to 50% on goods from more than twenty countries, effective August 1, as part of his administration's effort to address trade imbalances and national security concerns. The tariffs target a broad range of products, including critical sectors such as copper and pharmaceuticals, and are justified under the International Emergency Economic Powers Act. The European Union, led by Commission President Ursula von der Leyen, has expressed strong opposition, warning that the tariffs would disrupt essential transatlantic supply chains and harm businesses and consumers on both sides. The EU remains open to negotiations but has prepared retaliatory measures valued at €21 billion and is ready to safeguard its interests through proportionate countermeasures if necessary. Mexico has also condemned the tariffs as unfair and unacceptable, while the US administration continues to emphasize the need for more reciprocal trade agreements. These developments mark a significant escalation in international trade tensions, with potential widespread economic impacts.

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8f76b506-b4ea-4d97-9e25-107ba95ef15b
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3
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1
Unrated
2
Last Updated
21 days ago
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