US President Donald Trump on Saturday imposed a 30% tariff on imports from Mexico and the European Union starting on August 1 after weeks of negotiations with the key trading allies failed to reach a more comprehensive trade deal.
The fresh tariffs were announced in separate letters posted on Truth Social on Saturday.
In his letter to Mexico's leader, Trump acknowledged that the country has been helpful in stemming the flow of undocumented migrants and fentanyl into the United States. But he said the country has not done enough to stop North America from turning into a “Narco-Trafficking Playground.”
ALSO READ: Trump's threat of 30% tariff on European goods is negotiating tactic, say three EU officials
“Mexico has been helping me secure the border, BUT, what Mexico has done, is not enough,” Trump added.
Trump in his letter to the European Union said that the U.S. trade deficit was a national security threat.
“We have had years to discuss our Trading Relationship with The European Union, and we have concluded we must move away from these long-term, large, and persistent, Trade Deficits, engendered by your Tariff, and Non-Tariff, Policies, and Trade Barriers,” Trump wrote in the letter to the EU. “Our relationship has been, unfortunately, far from Reciprocal.”
Earlier this week, Trump issued new tariff announcements for a number of countries, including Japan, South Korea, Canada and Brazil, as well as a 50% tariff on copper.
The EU had hoped to reach a comprehensive trade agreement with the U.S. for the 27-country bloc.
The European Union had been bracing for the letter from Trump outlining his planned duties on the United States' largest trade and investment partner after a broadening of his tariff war in recent days.
The EU initially hoped to strike a comprehensive trade agreement, including zero-for-zero tariffs on industrial goods, but months of difficult talks have led to the realization it will probably have to settle for an interim agreement and hope something better can still be negotiated.
ALSO READ: Trump's sudden shifts make his policies baffling to countries trying to negotiate lower tariffs
The 27-country bloc is under conflicting pressures as powerhouse Germany urged a quick deal to safeguard its industry, while other EU members, such as France, have said EU negotiators should not cave into a one-sided deal on U.S. terms.
Trump's cascade of tariff orders since returning to the White House has begun generating tens of billions of dollars a month in new revenue for the U.S. government. U.S. customs duties revenue shot past $100 billion in the federal fiscal year through to June, according to U.S. Treasury data on Friday.
The fresh tariffs were announced in separate letters posted on Truth Social on Saturday.
In his letter to Mexico's leader, Trump acknowledged that the country has been helpful in stemming the flow of undocumented migrants and fentanyl into the United States. But he said the country has not done enough to stop North America from turning into a “Narco-Trafficking Playground.”
ALSO READ: Trump's threat of 30% tariff on European goods is negotiating tactic, say three EU officials
“Mexico has been helping me secure the border, BUT, what Mexico has done, is not enough,” Trump added.
Trump in his letter to the European Union said that the U.S. trade deficit was a national security threat.
“We have had years to discuss our Trading Relationship with The European Union, and we have concluded we must move away from these long-term, large, and persistent, Trade Deficits, engendered by your Tariff, and Non-Tariff, Policies, and Trade Barriers,” Trump wrote in the letter to the EU. “Our relationship has been, unfortunately, far from Reciprocal.”
Earlier this week, Trump issued new tariff announcements for a number of countries, including Japan, South Korea, Canada and Brazil, as well as a 50% tariff on copper.
The EU had hoped to reach a comprehensive trade agreement with the U.S. for the 27-country bloc.
The European Union had been bracing for the letter from Trump outlining his planned duties on the United States' largest trade and investment partner after a broadening of his tariff war in recent days.
The EU initially hoped to strike a comprehensive trade agreement, including zero-for-zero tariffs on industrial goods, but months of difficult talks have led to the realization it will probably have to settle for an interim agreement and hope something better can still be negotiated.
ALSO READ: Trump's sudden shifts make his policies baffling to countries trying to negotiate lower tariffs
The 27-country bloc is under conflicting pressures as powerhouse Germany urged a quick deal to safeguard its industry, while other EU members, such as France, have said EU negotiators should not cave into a one-sided deal on U.S. terms.
Trump's cascade of tariff orders since returning to the White House has begun generating tens of billions of dollars a month in new revenue for the U.S. government. U.S. customs duties revenue shot past $100 billion in the federal fiscal year through to June, according to U.S. Treasury data on Friday.
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