Overview

• Trump posted letters on Truth Social unveiling new levies that impose 35% duties on Canadian imports and 30% charges on goods from the EU and Mexico effective August 1.
• The uniform surcharges will stack onto existing sector-specific tariffs for steel, aluminum and automobiles, driving up costs for key export industries.
• Brussels, Ottawa and Mexico City warned that the broad levies threaten transatlantic supply chains and vowed reciprocal duties if the measures take effect.
• The latest notifications complete a series of more than 20 public tariff threats issued since early July as part of an unprecedented direct-to-public negotiation tactic.
• Global bodies including the WTO caution that the expansion of duties risks higher inflation and a slowdown in international trade volumes.