US president Donald Trump announced Saturday the introduction of 30% customs duties on imports from Mexico and the European Union. The fresh rates are due to enter into force on 1 August and are the consequence of a fiasco of negotiations with key trading partners. He announced the decision on the fact Social platform.
Trump again announces customs for the EU and Mexico
"For years we have been talking about our trade relations with the European Union and we have come to the conclusion that we must decision distant from the long-term and persistent trade deficits that arise from your customs policy and barriers to trade," Trump wrote. "Our relations were, unfortunately, far from reciprocity," he pointed out.
"30 % work on exports from the European Union will harm both companies, consumers and patients on both sides of the Atlantic. We will proceed to search an agreement by 1 August. At the same time, we are ready to defend the EU's interests through proportional retaliatory measures" - said the head of the European Commission Ursula von der Leyen.
This is another installment of Trump's customs policy. The European Union has been preparing for this step for a long time. Despite the hope of a comprehensive agreement including the abolition of duties on industrial goods, many months of negotiations have not brought a breakthrough. It is increasingly said that the EU will gotta settle for a temporary arrangement, hoping for better conditions in the future.
Within the EU block, however, divisions are growing. Germany is pushing for a fast agreement to defend its industry, while France and any another associate States inform against concessions under US conditions.
