Between shock reactions, protests and hopes for negotiations the European Union (EU) and Mexico have expressed disappointment at US President Donald Trump’s threat to impose 30% tariffs on their imports from 1 August.according to BBC
Donald Trump posted on Truth the letter he sent to the European Union in which he announced 30% tariffs starting August 1st, threatening to double them in case of retaliation.
On the other hand the EU‘s chief, Ursula von der Leyen threatened to take “proportionate countermeasures”, if needed. Both said they wanted to keep negotiating with the US.
In the letter sent to European Commission President Ursula von der Leyen, Trump wrote: “We have had years to discuss our trading relationship with the European Union, and have concluded that we must move away from these long-term-large, and persistent, trade deficits, engendered by your tariff, and non-tariff, policies and trade barriers.
The letter, however, contains a glimmer of hope for negotiation: “If you wish to open your currently closed trade markets to the United States and eliminate your tariff and non-tariff policies and trade barriers, we may consider amending this letter. These tariffs could be adjusted, upward or downward, depending on our relationship with your country.”
The EU has been a frequent target of Trump’s criticism. On 2 April, he proposed a 20% tariff for goods from the bloc, as well as dozens of other trade partners. He then threatened to raise the EU import taxes to 50% as trade talks stalled.
Regarding the imposition of 30% tariffs on EU exports to the US, “we need to remain calm and keep our nerves. We cannot jeopardize our financial markets. It’s obvious that the letter from the United States is an unpleasant desire to negotiate,” commented Confindustria President Emanuele Orsini.
“A technical knockout blow,” says Confcooperative. “A mortal blow” for Coldiretti. A blow to Made in Italy worth “€35 billion a year,” estimates the CGIA. Donald Trump’s letter to Europe announcing 30% tariffs is causing serious alarm among businesses.
This week Trump also announced new tariffs on goods from Japan, South Korea, Canada and Brazil from next month.
Donald Trump also posted on Truth the letter he sent to Mexico, announcing tariffs of 30% starting August 1st, threatening to double them in the event of retaliation. This is the same measure announced for Brussels.Mexico criticized what it called Trump’s “unfair deal” and insisted its sovereignty was non-negotiable,
Donald Trump’s tariffs are starting to bear fruit, at least from his perspective. US tariff collections increased again in June, exceeding $100 billion for the first time in a fiscal year and helping generate a surprising budget surplus of $27 billion for that month
This is according to the Treasury Department. Tariffs have become the fourth largest source of revenue for the federal government. In about four months, the share of tariffs in federal revenues has more than doubled, from about 2% to about 5%.
U.S. total goods trade with the European Union were an estimated $975.9 billion in 2024. U.S. goods exports to the European Union in 2024 were $370.2 billion, up 0.7 percent ($2.6 billion) from 2023. U.S goods imports from the European Union totaled $605.8 billion in 2024, up 5.1 percent ($29.4 billion) from 2023. The U.S. goods trade deficit with the European Union was $235.6 billion in 2024, a 12.9 percent increase ($26.9 billion) over 2023.
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