🇺🇸 Trump Announces 30% Tariff on Imports from Mexico & EU Starting August 1

🗓️ Date: July 12, 2025

📢 Breaking News: U.S. President Donald Trump has unveiled plans to impose a 30% tariff on goods imported from Mexico and the European Union, effective August 1, 2025, unless new trade agreements are reached.

🧩 What’s Behind the Moves:

• Mexico: Trump cited the ongoing fentanyl crisis and border security concerns as justification.

• European Union: Aiming to rebalance trade and address what he views as an unfair trade deficit, with the 30% surcharge doubling the current 10% tariff.

💼 Broader Tariff Context:

• These are part of a larger trade strategy including:

• 50% tariff on copper

• 35% on Canadian goods (outside USMCA)

• Additional levies on Japan, South Korea, Brazil, and others.

• Trump’s move aligns with earlier delays and escalations tied to an August 1 deadline for reciprocal tariffs—extended from pauses earlier this year.

📉 Market & Global Fallout:

• The EU is bracing for retaliatory tariffs and awaits an official letter from Trump detailing measures.

• U.S. equity markets took a hit: the Dow sank ~279 points (~0.6%), while the S&P 500 and Nasdaq also dipped.

• Analysts warn that global GDP could suffer (EU-US trade valued at over €1.7 trillion in 2024), with U.S. consumers facing higher prices.