President Donald Trump has announced sweeping 30% tariffs on imports from the European Union and Mexico, effective August 1. The move marks a significant escalation in the ongoing global trade war, with Trump also threatening similar measures against other countries. Both the EU and Mexico have signaled they are open to negotiations but are also preparing retaliatory actions to protect their interests. The tariffs are expected to increase costs for American households and businesses, with experts warning of broader economic fallout and heightened uncertainty in global markets. This aggressive trade stance has left trading partners and investors scrambling to adapt to rapidly shifting U.S. policies.
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