Washington: President Donald Trump increased pressure for agreements in his trade conflicts on Saturday by announcing that Mexico and the European Union, two important US trading partners, would be subject to a 30% tax beginning next month. In separate letters published on his Truth Social platform, Trump stated that both sets of levies will go into effect on August 1 and cited Mexico’s involvement in the illegal drug traffic into the United States and a trade imbalance with the European Union, respectively.
Although items entering the US under the US-Mexico-Canada Agreement are excluded, the taxes are greater than the 25 percent penalty Trump placed on Mexican exports earlier this year. A similar letter outlining 35% taxes on its exports was previously sent to Canada. Additionally, as talks with the bloc continue, the EU duty is far higher than the 20 percent charge Trump announced in April.
Trump pushed out the deadline to August 1 just days before the higher rates were supposed to go into effect. The EU and scores of other nations were supposed to see their US tariff level climb from a baseline of 10 percent on Wednesday. Trump has delivered revised tariffs in letters to over 20 nations since the beginning of the week.
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