President Trump’s announcement of a 30% tariff on all imports from the EU and Mexico, effective August 1, has upended global trade expectations. The move, revealed through official channels and social media, has triggered widespread concern among investors and policymakers.
Trump argued that the tariffs are a response to unfair trade practices and insufficient cooperation on security issues, particularly with regard to Mexico’s efforts to combat drug trafficking.
The EU had been working toward a compromise, but the sudden imposition of such high tariffs threatens to devastate key industries and could prompt significant retaliatory action. Mexican officials are similarly alarmed by the potential impact on their economy.
Experts warn that the tariffs could disrupt global supply chains, raise consumer prices, and lead to a prolonged period of economic uncertainty.
Trump’s 30% Tariff Shock on EU, Mexico Upends Global Trade
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