DONALD Trump has announced the EU and Mexico are set to face a whopping 30 per cent tariffs on imports to the US starting from August.
Trump announced the tariffs on two of the US’s biggest trading partners in letters posted to his social media account.
US President Donald Trump speaks to the press before boarding Marine One[/caption]
Tariffs are levies paid on bringing a good or service into a country[/caption]
And he threatened to impose even higher import taxes if either of the US trading partners decided to retaliate.
In his letter to the EU, Trump said that the US trade deficit was a national security threat.
“We have had years to discuss our Trading Relationship with The European Union, and we have concluded we must move away from these long-term, large, and persistent Trade Deficits, engendered by your Tariff, and Non-Tariff Policies, and Trade Barriers, Trump wrote in the letter to the EU.
“Our relationship has been, unfortunately, far from Reciprocal.”
In his letter to Mexico’s leader, Trump acknowledged that the country has helped stem the flow of undocumented migrants and fentanyl into the United States.
But he said the country has not done enough to stop North America from turning into a Narco-Trafficking Playground.
“Mexico has been helping me secure the border, BUT, what Mexico has done, is not enough,” Trump added.
Meanwhile, three EU officials said that the tariff announcement EU goods was rather a negotiating tactic by Trump.
EU chief Ursula Von Der Leyen hit out Saturday at new tariffs threatened by US President Donald Trump, but said the EU still wanted to work for a trade deal with Washington.
“Imposing 30 percent tariffs on EU exports would disrupt essential transatlantic supply chains, to the detriment of businesses, consumers and patients on both sides of the Atlantic,” von der Leyen said in a statement.
“We remain ready to continue working towards an agreement by August 1.
“At the same time, we will take all necessary steps to safeguard EU interests, including the adoption of proportionate countermeasures if required.”
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