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Trump Sets 30% Tariffs on EU and Mexico as Brussels Delays Retaliation

The EU is suspending €21 billion in planned reprisal measures to give negotiators time to secure a trade deal

FILE - European Commissioner for Trade and Economic Security Maros Sefcovic, right, speaks with European Commission President Ursula von der Leyen, during the weekly meeting of the College of Commissioners at EU headquarters in Brussels, April 9, 2025. (AP Photo/Omar Havana, File)
President of the European Commission Ursula von der Leyen and the President of Indonesia (Unseen) are talking to media at the end of a bilateral meeting in the Berlaymont, the EU Commission headquarter on July 13, 2025 in Brussels, Belgium. The discussions focused on Donald Trump, who announced 30% surcharges for the European Union and Mexico starting from August 1st.

Overview

  • President Trump will impose 30% duties on most imports from the European Union and Mexico starting August 1 if no new concessions are reached
  • The new 30% rate is in addition to existing 50% tariffs on steel and aluminium and 25% auto levies, all of which remain in effect
  • European Commission President Ursula von der Leyen announced the hold on the first €21 billion package of counter-tariffs while talks continue
  • A second EU countermeasure package targeting up to €72 billion of US goods is ready to be deployed if negotiations collapse
  • Financial markets reacted with a weaker euro and lower European stocks as both sides prepare for potential escalation