President Donald Trump on Saturday threatened duties of 30% on products from Mexico and the European Union, two of America’s biggest trading partners, in an ongoing tariff campaign that’s upended global trade since he retook office in January.
Trump has imposed a slate of tariffs on US trading partners this year – then paused, modified, raised or lowered them, in a chaotic barrage of policy actions that’s left everyone from major nations to individual Americans trying to figure out how to plan for the future even as economic uncertainty grows. The EU and Mexico join a growing list of countries whose imports will face updated duties on August 1, since Trump began posting tariff letters on Monday with rates of up to 40%. In his letters to the EU and Mexico, Trump said that all imports were subject to the 30% tariff, excluding “Sectoral Tariffs,” such as the 25% auto tariff.
CNN’s Betsy Klein reports from New Jersey, and Fredricka Whitfield speaks with Rep. Brad Schneider (D-IL). #CNN #News