Trump announces 30% tariffs on imports from Mexico, EU

Washington (Web Desk): US President Donald Trump has declared that a 30 percent tariff will be imposed on goods imported from Mexico and the European Union, effective from August 1st. This decision comes after weeks of unsuccessful negotiations aimed at reaching a comprehensive trade agreement.

According to the international news agency Reuters, Trump announced this measure through a statement posted on his social media platform, Truth Social.

Earlier this week, President Trump had also announced new tariffs on several countries including Japan, South Korea, Canada, and Brazil. Additionally, a 50 percent tariff was imposed on copper imports.

The European Union had hoped to secure a broad trade deal with the US, including zero tariffs on industrial products. However, after prolonged and tough negotiations, the deal could not be finalized. Differences among EU member states also hampered progress; Germany pushed for a swift agreement to protect its industries, while France opposed compromising on what it viewed as unilateral US demands.

Under Trump’s administration, these tariffs have generated billions of dollars in new revenue for the US government every month. Recently, customs duty revenues surpassed $100 billion for the federal fiscal year.