Donald Trump, Mexico and tariff
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The European Union has decided to hold off on imposing retaliatory tariffs on U.S. goods that were set to begin Monday.
The United States will start charging 30% tariffs on August 1 on products coming into the country from the European Union, President Donald Trump confirmed Saturday.
President Donald Trump posted letters to the leaders of Mexico and the European Union, saying they had not done enough to head off the new tariffs.
Mexico did not face a new tariff on April 2, the day of Trump's so-called "Liberation Day" tariff rollout. There remains a 25% tariff on non-USMCA-compliant goods from Canada and Mexico, as well as a 50% tariff on steel, aluminum and derivative products.
The European Union braced on Friday for a possible letter from U.S. President Donald Trump outlining planned duties on the United States' largest trade and investment partner after a broadening of his tariff war in recent days.
President Trump said he plans to impose blanket levies of 15% to 20% on most trading partners that haven't yet received suggested tariff rates. That would be higher than the 10% baseline currently in effect.
It shows that personal grudges rather than simple economics are a driving force in the U.S. leader’s use of tariffs.
Trump slapped a 50% tariff on Brazil, and Brazilian President Luiz Inacio Lula da Silva said his country would respond.