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Investing.com -- U.S President Donald Trump amped up his tariff regime on Saturday, announcing 30% tariffs on Mexico and the European Union. The increased tariffs take effect on August 1, 2025.
Trump made the announcements via his Truth Social account Saturday morning U.S. time, posting letters sent to Dr. Claudia Sheinbaum Pardo, the President of Mexico, and Ursula von der Leyen, the President of the European Commission.
For Mexico, Trump said the country has not done enough to stop the drug cartels. "Mexico has been helping me secure the border, BUT, what Mexico has done, is not enough," Trump said. "Mexico still has not stopped the Cartels who are trying to turn all of North America into a Narco-Trafficking Playground. Obviously, I cannot let that happen!" Trump said if Mexico decides to raise its tariffs on the U.S., the U.S. will add to the 30% tariff charged to the country.
On the EU, Trump said the U.S. "must move away from these long-term, large, persistent, Trade Deficits, engendered by your Tariff, and Non-Tariff Policies and Trade Barriers." The president said the trade relationship with the EU "has been, unfortunately, far from Reciprocal." Trump said goods transshipped to evade the higher levy will be subject to an even higher rate. "Please understand that the 30% number is far less than what is needed to eliminate the Trade Deficit disparity we have with the EU," he added. Trump said if the EU decides to raise its tariffs on the U.S., the U.S. will add to the 30% tariff charged to the bloc.
Earlier this week, Trump announced new tariffs on a number of countries, including Japan, South Korea, Canada, and Brazil, along with a 50% tariff on copper.