EU, Mexico to face 30% tariffs from next month: Trump

President Donald Trump on Saturday threatened to impose a 308 tariff on imports from Mexico and the European Union starting on August I, after weeks of negotiations with the key US allies and top trading partners failed to reach a comprehensive trade deal.

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In an escalation of the trade war that has angered US allies and rattled investors, Trump announced the latest tariffs in separate letters to European Commission President Ursula von der Leyen and Mexico's President Claudia Sheinbaum posted on Truth Social on Saturday.

Both the EU and Mexico responded by calling the tariffs unfair and disruptive while pledging to continue to negotiate with the US for a broader trade deal before the August deadline.

The European Union and Mexico are among the largest US trading partners.

Trump has sent similar letters to 23 other US trading partners this week, including Canada, Japan and Brazil, setting blanket tariff rates ranging from 208 up to 508, as well as a 508 tariff on copper.

Trump said the 308 tariff rate was “separate from all sectoral tariffs”, which means 5O8 levies on steel and aluminium imports and a 258 tariff on auto imports would remain at those levels.

The August | deadline gives countries targeted by Trump's letters time to negotiate a trade deal that could lower the threatened tariff levels.