President Donald Trump has announced that the European Union and Mexico will face a 30% tariff on imports to the US from 1 August. He warned he would impose even higher import taxes if either of the US trading partners decided to retaliate.

BRIDGEWATER, 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.

Donald Trump said he would impose tariffs of 30 per cent on Mexico and the EU from August 1 in a move that would further damage US relations with two of its closest trading partners. The president issued the new tariff threats in two letters posted to Truth Social on Saturday morning.