Tomato, Mexico and Agreement
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Trump proposes 30% tariff on Mexico, EU
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US President Donald Trump has announced that all imports from the EU and Mexico will have a 30% tariff as of August 1. He sent letters to EU President Ursula von der Leyen and Mexico’s President Claudia Sheinbaum informing them of the new rates, which were also posted on his Truth Social account on Saturday.
U.S. trade with Mexico rises to $74B in May; Redwood Logistics opens office in Queretaro, Mexico; and Franke Group opens production plant in San Luis Potosí, Mexico.
Tariff negotiations between the two top trading partners are on a different track from those the U.S. is pursuing with other nations. But Canada may not get a better outcome.
The U.S. just ended a decades-old tomato trade agreement with Mexico, and while prices could soon spike at grocery stores and restaurants across the country, one Stanislaus County farmer says not so fast.
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US stocks quietly open mostly down after Trump's 30% tariff on EU, Mexico from Aug 1. Analysts say markets are growing numb to Trump's tariff threats.