🔥 Trade War Reloaded: Trump Targets EU & Mexico with 30% Tariffs
🚨 Trade Tensions Escalate 🚨
On July 13, Trump announced 30% tariffs on EU (European Union) & Mexico, effective August 1, citing trade imbalances and border security issues.
Trump defended the move:
👉 On the EU: The U.S. maintains a trade deficit with the region, and the 30% levy is needed to “address this disparity.”
👉 On Mexico: While efforts have been made at the border, he said they “still have not stopped the cartels who are trying to turn all of North America into a narco-trafficking playground. Obviously, I cannot let that happen.”
🇪🇺 EU: Still the largest U.S. commercial partner ($600B+ in imports).
🇲🇽 Mexico: Top individual exporter to the U.S. in 2024 ($500B+).
📢 Ursula von der Leyen, President of the European Commission, warned the tariffs will "hurt businesses, consumers, and patients," but affirmed the EU is ready for “proportionate countermeasures.” 🔗
🇲🇽 Mexico’s President Claudia Sheinbaum remains calm, expecting a deal soon through ongoing talks.
Meanwhile, Brazil & Canada were also hit with 50% and 35% tariffs this week.
🌍🔥 Global trade is heating up — and that could shake up traditional markets.
📉 If volatility rises, crypto may see renewed interest as investors look for alternative stores of value and hedges against geopolitical risk.