Trump, European Union and Tariff
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The president posted letters to his EU and Mexican counterparts on his Truth Social account on Saturday morning.
Fox News correspondent Alexandria Hoff joins ‘Fox Report’ to explain President Donald Trump’s latest tariff announcement targeting Mexico and the European Union.
Scavino and two other top officials sold Trump Media stock with a combined value of up to $10 million before tariffs news
While Mexico was spared from Trump's so-called "Liberation Day" tariff rollout on April 2, the 30% rate for the E.U. is 10% higher than what the president said he would apply to America's largest trading partner in April.
Global investors got a harsh reminder of the risks around trade tariffs and U.S. President Donald Trump's deal-making on Saturday after he threatened fresh tariffs on his biggest trading partners in Europe and Mexico.
President Donald Trump has announced a 30% tariff for both the European Union (E.U.) and Mexico, with the charges set to come into effect on Aug. 1.
The president’s supporters portray him as a top dealmaker. But, at least for now, far more trading partners have gotten stiff tariffs than trade deals.
The dollar rose and Commerzbank said since Trump is announcing the tariffs in increments, the market seemed to be coping better than it did in April—when steep levies were unveiled at once.