President Donald Trump has announced 30 percent tariffs on imports from the European Union and Mexico, to go into effect on Aug. 1, a deadline that applies to a bevy of reciprocal tariffs that Trump said he’s imposing on many of the United States’ trading partners to address long-running trade imbalances and other factors.
In letters posted on social media on July 12, Trump said that the two trading partners had for years imposed various tariffs and nontariff trade barriers on the United States and that the duties they now face seek to correct that imbalance.
