Trump Announces 30% Tariffs on EU, Mexico, Others

US President Donald Trump has announced that imports from the European Union and Mexico will be subject to a 30% tariff starting August 1, escalating ongoing trade disputes. The announcement, made via letters on Trump's Truth Social platform, cites trade imbalances and national security concerns as justification. Trump warned that if the EU or Mexico retaliate with tariffs of their own, the US will raise its tariffs further. The new tariffs, which triple previous rates, have derailed hopes of finalizing comprehensive trade agreements with both the EU and Mexico. The EU had been optimistic about reaching a deal, but now faces a major setback. This move follows recent US tariff announcements on other countries, including Japan, South Korea, Canada, and Brazil.