“President Donald Trump threatened Saturday morning to impose 30 percent tariffs on imports from Mexico and the European Union starting Aug. 1, raising the stakes for ongoing negotiations with two crucial trading partners,” the Washington Post reports.
“Last year, U.S.-E.U. trade in goods totaled nearly $1 trillion. The U.S. and Mexico are linked in a North American trading zone under a trade agreement negotiated during Trump’s first term, with almost $840 billion in goods passing between them.”
Wall Street Journal: “Trump’s threat to put a 30% tariff on the EU comes after weeks of intense negotiations between U.S. and EU officials. The bloc had hoped that reaching an outline deal with the Trump administration would avoid higher tariffs. It wasn’t immediately clear how the letter might affect the status of those talks, which EU officials had said they hoped would conclude before Aug. 1.”