US President Donald Trump has issued a new warning to the European Union and Mexico, threatening 30% tariffs unless they agree to better trade terms. The move comes as talks between the two nations continue, leaving global financial markets on edge. Key trading partners were informed of the new rates via social media letters, which will take effect on August 1 if negotiations stall.
Source: https://www.bloomberg.com/news/articles/2025-07-12/trump-says-us-to-impose-30-tariffs-on-eu-mexico-from-aug-1