US President Donald Trump imposes 30 percent tariffs on imports from the EU from August 1st.
The Republican wrote this on his Truth social platform.
Zollhammer meets Europe and Mexico at the same time
Donald Trump dramatically tightens his trading policy course. The US President announced by publishing the letter from 1 August to raise import duties from 30 percent on goods from the European Union and Mexico. This announcement was made via Trump’s own social media platform and represents a significant increase compared to the 20 percent previously located in the room. Customs measures come despite ongoing negotiations between Brussels and Washington, which actually had an agreement.
EU efforts to unite remain unsuccessful
The EU had reaffirmed its willingness to negotiate on Friday. Despite these efforts, the hoped -for breakthrough failed. Trump had initially set a deadline until July 9, then extended it to August 1st – only to announce the harder tariffs now. Already on Thursday he announced to NBC News that the EU would receive a letter “today or tomorrow” with details on new tariffs.
Global customs offensive hits numerous trading partners
The measures against the EU are not alone. Trump had already announced new tariffs for several important trading partners, including Japan, South Korea, Canada and Brazil. The raw material market is particularly hard: a custom of 50 percent is to be introduced for copper.
This comprehensive customs offensive signals a fundamental realignment of the US trade policy, which is based on confrontation instead of cooperation and could significantly burden global supply chains.
Redaktion finanzen.net with dpa (afx)