Trade War Escalates as Trump Threatens New Tariffs on Mexico, EU
2025-07-12 20:21:15
Main Idea
President Donald Trump threatened to impose new tariffs ranging from 20% to 50% on imports from Mexico and the European Union, escalating trade tensions.
Key Points
1. President Trump announced plans to impose tariffs of up to 30% on imports from Mexico and the EU starting August 1.
2. The new tariffs are separate from existing levies on steel and aluminum.
3. The EU has indicated it will take necessary countermeasures in response to the proposed tariffs.
Description
On July 12, President Donald Trump threatened to impose a 30% tariff on imports from Mexico and the European Union starting August 1, following unsuccessful trade negotiations. This escalation in the trade war has angered U.S. allies and unsettled investors. Trump communicated this decision in letters to European Commission President Ursula von der Leyen and
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