US EditionTrump announces 30% tariffs against EU, Mexico to begin August 1
UNITED STATES, JUL 12 – The tariffs aim to address trade deficits and national security concerns, affecting 24 countries and generating over $100 billion in customs revenue, according to U.S. Treasury data.
- Last Saturday, President Donald Trump announced 30% tariffs on EU and Mexico effective August 1 via Truth Social letters.
- Driven by Trump's focus on reducing the US trade deficit and addressing the fentanyl crisis, the tariffs serve as leverage in renegotiating trade agreements.
- Following the tariff letters, Trump issued 24 to countries including the EU and Mexico via Truth Social, escalating trade tensions and disrupting established rules.
- EU officials warned that Trump’s 30% tariffs could disrupt supply chains and pledged to take all necessary steps to protect their interests.
- EU ambassadors will meet in Brussels on July 14 to discuss trade tensions and potential retaliations, as analysts warn of rising inflation risks later this year.
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Market Resilience Challenged by Trump’s Weekend Tariff Salvo
Financial markets, which have shown increasing insensitivity to tariff threats from the US, will face a test at the Monday open after President Donald Trump declared a 30% rate for the European Union and Mexico effective Aug. 1.
·United States
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News Wrap: Trump announces 30% tariffs on Mexico and EU
In our news wrap Saturday, Trump announced 30% tariffs beginning Aug. 1 on imports from Mexico and the EU, more Palestinians in Gaza were killed while trying to get food aid, Russia pounded Ukraine with drones and missiles, and a report on June’s deadly Air India crash says the fuel supply to the plane’s engines was cut off shortly after takeoff.
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Total News Sources307
Leaning Left37Leaning Right26Center51Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 32%
C 45%
R 23%
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