U.S. President Donald Trump on Saturday announced he's levying tariffs of 30 percent against the European Union and Mexico starting Aug. 1, a move that could cause massive upheaval between the United States and two of its biggest trade partners.

The president said the blanket 35% would be on top of tariffs on certain sectors. That’s higher than the previous 25% rate.

The EU has been a frequent target of Trump's criticism. On 2 April, he proposed a 20% tariff for goods from the bloc, as well as dozens of other trade partners. He then threatened to raise the EU import taxes to 50% as trade talks stalled.

President Donald Trump announced a new set of duties on Canadian goods that were not covered by existing sectoral tariffs.

President Donald Trump has managed to make his erratic trade policies even more baffling to countries desperate to negotiate an escape from his wrath. Doubling down on his

Canada would bear the brunt of Trump's tariffs in terms of economic contraction, says The Budget Lab of Yale.

Economists and investors are left guessing by President Donald Trump’s tariff agenda as he grants extensions then threatens higher tariffs in letters to trading partners. It remains to be

The letter reiterated Trump’s complaints about dairy quotas, fentanyl and the U.S. trade deficit, which is mostly fueled by American refineries’ thirst for Canadian oil. His social media post caused the Canadian dollar to immediately tumble, indicating the market wasn’t expecting this escalation.