While Mexico was spared from Trump's so-called "Liberation Day" tariff rollout on April 2, the 30% rate for the E.U. is 10 percentage points higher than what the president said he would apply to America's largest trading partner in April but lower than his mid-May threat of 50%.

Mexican President Claudia Sheinbaum on Tuesday (July 15) said Mexico will take action if an agreement with Washington regarding new tariffs is not reached by the August 1 deadline set by her U.S. counterpart Donald Trump,

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.

On August 1, a significant shift in international trade is expected as President Donald Trump enacts a 30% tariff on imports from the European Union and Mexico, two of the U.S.'s largest trading partners.

The president has earned a reputation for bluffing on tariffs. But he has steadily and dramatically raised U.S. tariffs, transforming global trade.

Wall Street is pointing lower before the opening bell with new tariffs announced for Europe and Mexico and as the unofficial start of earnings season get under way this week. Futures for the S&P 500, Dow Jones Industrial Average and Nasdaq each retreated by about 0.3% early Monday.

Betting on Mexico’s currency has paid off for investors even amid Donald Trump’s trade war. The peso is up more than 11% this year, beating all regional peers, even as it dipped Monday following the latest tariff news — a threat of a 30% levy announced over the weekend.

President Donald Trump said Monday that he would impose secondary tariffs on Russia of 100% if a peace deal with Ukraine isn’t reached in 50 days. “We are going to be doing very severe tariffs if you don’t have a deal in 50 days,