Trump Announces New Tariff Plan, Imposing 30% Tariffs on EU and Mexico
U.S. President Donald Trump today (12th) unveiled the fourth wave of tariffs on the social media platform "Truth Social," announcing that a 30% tariff will be imposed on Mexico and the EU, effective August 1. (Image / AP)
Notably, Trump had previously stated that the tariffs would be 25% on Mexico and 20% on the EU, but today’s announcement set the tariff rate at 30%. Such shifts are not unprecedented; for instance, the tariff on Vietnam was initially agreed at 11% but was raised to 20%, while Brazil saw its tariff jump from 10% to 50%.
Moreover, Trump indicated that he will impose comprehensive tariffs of 15% or 20% on remaining trading partners. To date, he has sent tariff letters to 24 countries, though Taiwan is not among them.
