European Union, Trump and FT
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Trump, ECB and rates
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President Donald Trump on Saturday threatened duties of 30% on products from Mexico and the European Union, two of America’s biggest trading partners, in an ongoing tariff campaign that’s upended global trade since he retook office in January.
Some commodities have also been subject to individual tariffs. Trump recently announced a 50% tariff on copper imports, effective from 1 August. Steel and aluminium imports are already subject to a 50% tariff from most countries, though in the UK’s case this is 25%.
President Trump announced on social media that he is levying 30% tariffs against Mexico and the European Union. They are set to begin on Aug. 1.
The Associated Press on MSN12d
Trump Announces 30% Tariffs On European Union And Mexico As Trade War Ramps Up AgainBRIDGEWATER, New Jersey (AP) — President Donald Trump on Saturday announced he’s levying tariffs of 30% against the European Union and Mexico. Trump announced the tariffs on two of the United States’ biggest trade partners in letters posted to his social media account.
Confident that his right-wing populist policies would help win him favor with Trump’s administration, Orbán said in an interview in April that while tariffs “will be a disadvantage,” his government was negotiating “other economic agreements and issues that will offset them.”
Volkswagen AG said it expects US tariffs to come down to a more manageable level, bolstering the export-reliant automaker after it tallied up €1.3 billion ($1.53 billion) in expenses in the first half due to President Donald Trump’s trade war.
President Donald Trump posted letters to the leaders of Mexico and the European Union, saying they had not done enough to head off the new tariffs.
President Donald Trump has posted two new letters on his social media platform announcing tariffs on the European Union and Mexico.
President Donald Trump’s vows to roll out punishing new tariffs on Aug. 1 have barely made a ripple with investors who are convinced he’ll once again back down. But at the White House, officials insist they’re serious this time.