"Trump to Impose 30% Tariff on EU and Mexican Imports Starting August 1"

Minseung Kang

Summary

"President Trump is expected to impose a 30% tariff on imports from Europe and Mexico starting August 1."
"It was stated that this tariff rate is assessed to be higher than the market anticipated."
"It was reported that tariff exemptions would be maintained for items that meet the requirements of the United States–Mexico–Canada Agreement (USMCA)."

It has been reported that President Donald Trump of the United States plans to impose a 30% tariff on imports from Europe and Mexico starting next month.

On the 12th, the foreign economic news channel DB reported, "President Trump is expected to impose a 30% reciprocal tariff on imports from Mexico starting August 1." Also, according to the foreign economic news channel Walter Bloomberg, Trump is expected to impose the same 30% tariff on the European Union (EU).

Meanwhile, the tariff rate proposed by President Trump is being evaluated as higher than the market expected.

Previously, he had imposed a 25% tariff on Canada and Mexico due to insufficient response to the issue of synthetic drug fentanyl and illegal immigration into the United States. However, tariff exemption measures have been maintained for items that meet the requirements of the United States–Mexico–Canada Agreement (USMCA).