The U.S. plans to impose a 30% tariff on imports from the European Union and Mexico starting August 1, following President Trump’s announcements on social media. This move is part of a broader strategy affecting several key trading partners. While Mexico seeks to strengthen ties and avoid retaliation, U.S. officials have indicated the new tariffs, which may replace existing ones, are intended to address trade imbalances. EU leaders have warned that such tariffs could negatively impact businesses and are pursuing negotiations to reach an agreement before the implementation date.

Source: https://www.supplychaindive.com/news/trump-tariffs-mexico-eu-aug-1/752797/