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More non-taco
Posted on: July 14, 2025 at 06:32:54 CT
90Tiger STL
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Trade Tariffs, Continued
President Donald Trump announced 30% tariffs on the European Union and Mexico Saturday. Barring any agreement, the tariffs are scheduled to go into effect Aug. 1.
The EU is the US’ single biggest trading partner, with total trade approaching $1T last year; trade with Mexico approached $840B. Collectively, goods from the EU and Mexico make up about one-third of all US imports (see more). The announcement comes amid ongoing negotiations. Trump warned in his statement any retaliatory rate the EU levies on the US will be automatically added to EU goods. The EU has since announced it would delay countermeasures—planned to go into effect tomorrow—until early August.
The Trump administration has threatened tariffs on dozens of countries in its bid to reduce the US trade in goods deficit ($1.2T last year) and bolster US manufacturing. A 90-day pause on those tariffs expired this week, with three countries—the United Kingdom, Vietnam, and China—agreeing to new arrangements or a truce. Trump has extended countries' deadlines to Aug. 1. See a tariff tracker here.
President Donald Trump announced 30% tariffs on the European Union and Mexico Saturday. Barring any agreement, the tariffs are scheduled to go into effect Aug. 1.
The EU is the US’ single biggest trading partner, with total trade approaching $1T last year; trade with Mexico approached $840B. Collectively, goods from the EU and Mexico make up about one-third of all US imports (see more). The announcement comes amid ongoing negotiations. Trump warned in his statement any retaliatory rate the EU levies on the US will be automatically added to EU goods. The EU has since announced it would delay countermeasures—planned to go into effect tomorrow—until early August.
The Trump administration has threatened tariffs on dozens of countries in its bid to reduce the US trade in goods deficit ($1.2T last year) and bolster US manufacturing. A 90-day pause on those tariffs expired this week, with three countries—the United Kingdom, Vietnam, and China—agreeing to new arrangements or a truce. Trump has extended countries' deadlines to Aug. 1. See a tariff tracker here.
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More non-taco - 90Tiger STL - 7/14 06:32:54