Overview

• President Trump has directed 30% tariffs on imports from Mexico and the European Union and 35% on Canadian goods to take effect August 1.
• Official letters warn that any retaliatory tariffs by trading partners will be added on top of the baseline rates.
• The Mexican government condemned the measures as unjust and has launched urgent talks with U.S. officials to seek exemptions or alternatives.
• The European Commission says it remains willing to negotiate with Washington but has prepared proportional countermeasures to protect EU interests if talks fail.
• Goods covered under the USMCA remain exempt from the new levies even as legal challenges to the administration’s tariff authority proceed in U.S. courts.