Donald Trump perceives current trade deal offers as inadequate and intends to proceed with tariffs on Mexico, the European Union, and other nations. His economic adviser Kevin Hassett confirmed that the president is dissatisfied with trade negotiations, especially with Brazil, which has threatened to respond with its own tariffs. The EU is facing a significant shift in negotiations as tariffs are set to increase from 10% to 30% effective 1 August, prompting European leaders, including Emmanuel Macron, to strategize retaliatory measures to defend their interests and industries against economic repercussions.
Trump's threatened tariffs on goods from Mexico and the European Union will rise to 30% starting on 1 August if no satisfactory trade deal is reached.
Brazil's retaliation to Trump's threatened tariffs includes a potential 50% tariff on US goods, reflecting tensions in trade negotiations between the two nations.
The EU, angered by Trump's tariffs, had anticipated a previously negotiated deal, which would have imposed a lower tariff of 10%, compared to the newly announced 30%.
Emmanuel Macron has called for a resolute defense of European interests in light of Trump's threats, emphasizing the looming economic impact on France's agriculture sector.
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