US Imposes 30% Tariffs on EU and Mexico; EU Prepares for Countermeasures
US President Donald Trump has announced a 30% tariff on imports from Mexico and the European Union, starting on August 1. The EU is ready to take necessary steps to protect its interests if the tariffs proceed.
The European Union and Mexico faced a 30 per cent tariff on imports from the US starting on August 1, imposed by President Donald Trump after failed trade negotiations. The EU had hoped for a comprehensive trade deal but may have to settle for an interim agreement. European Commission President Ursula von der Leyen stated that the EU is prepared to safeguard its interests with necessary steps if the tariffs proceed.
President Trump's recent tariff announcements have generated significant revenue for the US government, surpassing US$100 billion in customs duties in the fiscal year to June.
According to the source: The Straits Times.
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