US President Donald Trump seems to be enjoying his tariff tango with world leaders. One moment, he hikes tariffs, and the next, he reverses them, imposing and reimposing as he sees fit. However, the latest move is no laughing matter for European nations. Starting August 1, the United States will slap a 30% tariff on goods imported from the European Union. A similar measure is being implemented against Mexico.

"Starting on August 1, 2025, we will charge the European Union a tariff of only 30% on EU products sent into the United States, separate from all sectoral tariffs," Trump announced.

The American president added that the same approach would apply to Mexico. According to the White House, if EU or Mexican officials respond with tariffs of their own, the US will match those new rates by adding them on top of the existing ones.

Earlier, Trump introduced a 35% tariff on Canadian goods and said that he might lift the tariff if Canadian manufacturers relocated their production to the United States.