Washington, D.C.: US President Donald Trump on Saturday announced new tariff measures targeting Mexico and warned the European Union, escalating trade tensions ahead of the 2024 US elections.
In a letter posted on his social media platform Truth Social, Trump declared that all goods imported from Mexico will be subjected to a 30% tariff starting August 1. The move, he said, was intended to address what he described as an ongoing imbalance in trade and to “protect American workers and industries.”
“Goods imported from Mexico will face a 30 per cent US tariff rate starting August 1,” Trump wrote in the letter shared publicly.
In a separate communication, Trump also issued a warning to the European Union, hinting at further tariffs if trade practices he deems unfair are not corrected.
The letters come amid growing speculation that Trump, a frontrunner for the Republican nomination, may revive his aggressive trade agenda if elected again. His presidency from 2017 to 2021 was marked by tariff battles with China, Canada, Mexico, and the EU, dramatically reshaping global trade dynamics.
While official confirmation from the White House or USTR (United States Trade Representative) is still pending, Trump’s announcement has already triggered concern among economists and trade analysts, who fear potential retaliatory tariffs and disruption in cross-border trade, particularly with Mexico—America’s largest trading partner in 2023.