Mexico, Donald Trump and European Union
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President Trump is pushing through with his tariff agenda, unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August. Trump on Thursday announced a 35% tariff on Canadian goods.
The Trump Administration withdrew from a longstanding trade agreement with Mexico governing the import of tomatoes and will push forward with a new tariff of just over 17%, the Commerce Department announced Monday.
Mexican President Claudia Sheinbaum on Tuesday 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 expanded his tariff threats over the weekend, calling for 30% levies on two of America’s largest trading partners: the European Union and Mexico.
Most European markets took a hit as trading resumed in the wake of President Trump's latest tariff threats, and as the EU keeps hoping for a deal.
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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.
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.