by After months of meticulous talks, President Trump declared on Saturday in letters shared on social media that he would impose a 30 percent tariff on imports from Mexico and the European Union, upending America’s economic ties with two of its largest trading partners.
Like those imposed on numerous other trading partners, Mr. Trump’s tariffs would go into force on August 1.
A significant amount of goods and services are traded between the United States and the European Union, a trading bloc of 27 countries that together comprise the third-largest economy in the world. European officials had hoped to negotiate a compromise with their American colleagues to avoid such high taxes because of their strong relations.
The European Union’s trade commissioner, Maros Sefcovic, has maintained regular communication with the U.S. trade representative and commerce secretary. Mr. Trump has had a conversation with European Commission President Ursula von der Leyen. And authorities had felt they were close to a settlement until lately.
European Union leaders were expecting to negotiate exceptions for key products after progressively realizing that the bloc would be subject to a 10 percent general tariff on all goods sent to the United States. The economic uncertainty that Mr. Trump’s trade policies had unleashed on German automakers, Italian wine exporters, and Irish pharmaceutical industries alike made many officials eager to put an end to it.
However, Mr. Trump’s decision on Saturday of a flat 30 percent levy and his threat to raise it further if the bloc retaliates transformed the situation.
The 30 percent that we charge will be increased by the amount you decide to raise your tariffs in retaliation, if you decide to do so for whatever reason.The letter was written by Mr. Trump and echoed a formal letter he has been delivering to other U.S. trading partners to announce their tariff rates.
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