A. M. The President of the United States, Donald Trump, has shaken the international economic panorama by announcing the imposition of 30% tariffs on products from Mexico and the European Union. The forceful measure, which will come into effect on august 1, was communicated through letters on his Truth Social platform.
Trump’s justification for the tariffs on Mexico centers on what he considers a failure of the Latin American country to stop the flow of illicit drugs, especially fentanyl, into U.S. territory. The former president called the cartels “the most despicable people to ever set foot on Earth.”
Likewise, the announcement for the European Union is due to an alleged trade imbalance, according to the former president. The decision seeks to reconfigure the current economic dynamics and favor domestic production in the United States, under the vision of “America First”.
Trump emphasized that, although Mexico has collaborated in border security, its action has not been sufficient to curb the cartels. In his view, the threat of illicit drugs persists and stronger measures to protect North America are imperative.
As of august 1, not only will a general tariff of 30% apply, but additional levies will be added for specific economic sectors. Those products that attempt to evade these duties will face even higher tariffs.
The President clarified that this measure could be avoided if Mexico or its companies choose to build and manufacture products within the United States. He stated that his administration would expedite the processes to make this approval quick and smooth.
