Trump slaps 30% tariffs on EU, Mexico

Published 12/07/2025, 13:54
Updated 12/07/2025, 14:12
© Reuters

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.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.