The United States is set to impose tariffs of 30 percent on imports from the European Union, effective August 1st. The announcement came in a letter released Saturday by the U.S. President addressed to European Commission President Ursula von der Leyen.
The proposed tariff would be applied uniformly across all imports, superseding existing tariffs on specific sectors. The letter also indicated that the measures are subject to potential adjustments and modifications at a later date.
The stated rationale for this action centers on the ongoing U.S. trade deficit with the EU, specifically focusing on goods rather than services. The communication reiterated a call for businesses to relocate production to the United States in order to circumvent tariffs. Concurrently, the President also announced similar tariffs of 30 percent on imports from Mexico.