Trump imposes 30% tariff on imports from EU and Mexico

US President Donald Trump on Saturday announced a 30 per cent tariff on imports from Mexico and the European Union, effective August 1, following the collapse of efforts to strike broader trade deals with both key partners.

The decision was revealed in separate letters posted on Trump’s Truth Social account, marking another escalation in his administration’s sweeping tariff agenda.

This latest move comes just days after similar tariffs were imposed on imports from Japan, South Korea, Canada, and Brazil, along with a separate 50% duty on copper.

Trump's renewed trade offensive has sparked concerns across global markets, while significantly boosting US customs revenue, which surpassed $100 billion in the current fiscal year through June, according to US Treasury data.

The European Union, which had been pushing for a comprehensive trade agreement involving the elimination of industrial tariffs, expressed disappointment at the new measures.

European Commission President Ursula von der Leyen warned that the bloc would take “all necessary steps” to defend its economic interests, including proportionate countermeasures.

“Few economies in the world match the European Union’s level of openness and adherence to fair trading practices,” von der Leyen said, adding that the EU remains open to reaching an agreement by the August 1 deadline.

The EU faces internal divisions, with Germany calling for a swift compromise to protect its industry, while France and others have cautioned against conceding to US demands.

Meanwhile, Italian Prime Minister Giorgia Meloni stressed the importance of continuing negotiations, stating that Rome supports the European Commission’s efforts and remains hopeful of securing a “fair deal.”

Trump’s tariff campaign, reinstated after his return to office, has rapidly expanded into a global trade confrontation, drawing sharp responses from allies and raising fears of a renewed trade war.