Trump Raises Tariffs on Mexico and the European Union to 30 Percent
Currency markets are headed for another bruising open when trading begins in Asia tomorrow afternoon after President Donald Trump delivered another set of letters threatening to impose higher tariffs on Mexico and the European Union. In two missives posted to his social media platform, the president said taxes on imports from two of America’s most important trading partners would rise to 30 percent on August 1, separate from other sectoral tariffs on products like steel, aluminum, and automobiles. In his communication to President Claudia Sheinbaum, Trump acknowledged “Mexico has been helping me secure the border,” but said “what Mexico has...