President Trump on Saturday posted letters threatening the European Union and Mexico with 30% tariffs as of August 1.
Trump has reverted to the fully aggressive trade posture he took in early April, with a stable economy at his back and financial markets showing no signs of stopping him.
Just as in April, investors say the tariffs he’s rolled out this week are substantially higher than markets expected — but unlike April, stocks are exploring new highs, not new lows, while bonds remain tranquil.
In separate letters posted on Truth Social on Saturday, Trump said that the U.S. would implement tariffs of 30% on U.S.-bound goods from Mexico and Europe.
In the case of Europe, the letter disrupts the talks between the two nations aimed at landing a deal this month.
Trump’s threat for higher levies on Mexican goods escalates trade tensions across North America, which the White House has used to try to pressure Mexico and Canada to tighten up border controls.
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Author: Marty Kaufmann
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