Overview

• President Trump announced 30% duties on all imports from the European Union and Mexico effective August 1, adding to existing steel, aluminium and auto levies.
• He sent formal letters to 23 other trading partners warning of blanket 20%–50% tariffs unless new bilateral agreements are reached by the August 1 deadline.
• European Commission President Ursula von der Leyen confirmed a pause on planned retaliatory duties through early August to pursue last-minute negotiations.
• Mexican President Claudia Sheinbaum denounced the proposed 30% tariff as unfair while affirming Mexico’s willingness to negotiate and defend its sovereignty.
• Investors and analysts are wary of potential supply-chain disruptions, higher consumer prices and possible World Trade Organization challenges.