Trump’s 30% Tariff Move on EU, Mexico Sparks Fears of Retaliation

President Donald Trump has imposed a 30% tariff on all goods imported from the European Union and Mexico, effective August 1. The announcement, made through letters and social media, has alarmed global markets and raised the specter of retaliatory trade measures.
Trump justified the tariffs by citing trade imbalances with the EU and ongoing concerns about drug trafficking from Mexico. He argued that the new rates are necessary to protect American industries and jobs.
The EU, which had been negotiating for lower tariffs, now faces significant challenges as its exports become less competitive in the U.S. market. Mexican industries are also bracing for major disruptions.
Both the EU and Mexico are preparing to introduce their own tariffs in response, potentially igniting a broader trade conflict with global ramifications.