U.S. trading partners are planning responses to new tariffs announced by President Trump, set to take effect on August 1. These include a 35% tariff on Canadian imports, 30% on products from the EU and Mexico, and a 50% tariff on Brazilian imports. The EU is postponing its countermeasures until early August while also preparing additional tariffs on U.S. goods. Canada has pushed back negotiations on its tariffs to align with the U.S. changes, while Mexico expresses optimism about reaching an agreement with the U.S. Brazil plans to reciprocate the tariffs.

Source: https://www.supplychaindive.com/news/trump-august-tariffs-eu-mexico-canada-brazil-response/752960/