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Former U.S. President escalates trade tensions with sweeping new duties targeting key allies
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In a move that could further rattle global markets, former U.S. President Donald Trump has declared that both the European Union and Mexico will face a 30% tariff on their exports to the United States beginning in August.
The announcement, made during a campaign event, signals a sharp escalation in Trump’s protectionist trade agenda as he pushes for what he calls “fair and reciprocal trade.” The tariffs are expected to hit a broad range of goods, including automobiles, agricultural products, and manufactured items.
Trump accused the EU and Mexico of taking advantage of what he described as outdated trade rules and vowed to bring U.S. manufacturing back by making foreign imports “pay their share.”
The proposed duties have sparked alarm in diplomatic circles and among business leaders, who warn the move could trigger retaliation, disrupt supply chains, and increase costs for consumers on both sides of the border.
Officials in Brussels and Mexico City are reportedly reviewing their response strategies, with early signals suggesting they may challenge the tariffs through diplomatic and legal channels.
Economists caution that a tit-for-tat trade war could jeopardize global economic stability at a time when inflation and supply chain pressures are already high.
As August approaches, all eyes are on whether the proposed tariffs will go into effect — and what political, economic, and diplomatic fallout might follow.