President Donald Trump threatened duties of 30% on products from Mexico and the European Union in two letters he released on social media on Saturday, adding to the global trade war that he’s sparked since taking office in January.
“The United States of America has agreed to continue working with the European Union, despite having one of our largest Trade Deficits with you. Nevertheless, we have decided to move forward, but only with more balanced and fair TRADE,” Trump wrote in the letter to Ursula von der Leyen, president of the European Commission, which he posted to Truth Social.
agreement” by the August 1 deadline.
“Imposing 30% tariffs on EU exports would disrupt essential transatlantic supply chains, to the detriment of businesses, consumers and patients on both sides of the Atlantic,” von der Leyen said in the statement, adding that the EU is willing to continue working on a trade agreement but “will take all necessary steps to safeguard EU interests, including the adoption of proportionate countermeasures if required.”
Products from Mexico, meanwhile, have mostly been able to enter the country duty-free, granted they were compliant with the United States-Mexico-Canada Agreement (USMCA) he negotiated in his first term. In his letter addressed to Mexican President Claudia Sheinbaum, Trump reiterated his tariff reasoning from February, that tariff barriers were imposed to stop the flow of fentanyl into the United States.
“Mexico has been helping me secure the border, BUT, what Mexico has done, is not enough,” Trump wrote.
Source:-CNN