Trump Announces New Tariffs on Cars from the EU and Mexico
US President Donald Trump has announced the imposition of 30% tariffs on goods from the European Union and Mexico, which will take effect on August 1. This decision could significantly impact the automotive industries of both regions, as a significant portion of exports are directed precisely to the American market.
European Commissioner for Trade Maroš Šefčovič stated that such tariffs would virtually halt trade between the EU and the US. He also added:
This will make trade almost impossible. We were close to a deal, but now the situation has changed dramatically.
Reaction from Mexico and Canada
Mexico, which is a major US trading partner, has also come under fire. Many automotive plants in Mexico, including those owned by American companies, export their products to the US. Canada, by the way, received even higher tariffs – 35%.
Trump explained his decision by stating that Mexico is not doing enough to combat fentanyl smuggling across the border. In a letter to the President of the European Commission, Ursula von der Leyen, he demanded the full opening of EU markets to American goods without any tariffs.
Both sides – the EU and Mexico – have two more weeks for negotiations to avoid the imposition of new tariffs. However, whether a compromise can be found remains unknown for now. Automakers are already preparing for potential changes that could significantly impact car prices and availability in the US market.