Tag: Mexico

President Donald Trump on Saturday threatened to impose a 30% tariff on imports from Mexico and the European Union starting on August 1, after weeks of negotiations with the major U.S. trading partners failed to reach a comprehensive trade deal.

US President Donald Trump is exempting the automakers from 25% tariffs for one month after negotiating with major industrial leaders. Auto stocks rose following the news.

Oil prices extended losses on Tuesday following reports that OPEC+ will proceed with a planned output increase in April and as U.S. tariffs on Canada, Mexico and China came into effect, as well as Beijing’s retaliatory tariffs.

Shares in European carmakers and automotive suppliers fell sharply on Tuesday, after U.S. tariffs of 25% on imports from Mexico, a major centre for the sector to supply the American continent, took effect.

President Donald Trump on Thursday said that his proposed tariffs on Mexico and Canada will go into effect on March 4, and that China will be charged an additional 10% tariff on the same date.

U.S. President Donald Trump on Wednesday raised hopes for another month-long pause on steep new tariffs on imports from Mexico and Canada, saying they could take effect on April 2, and floated a 25% “reciprocal” tariff on European cars and other goods.

Tariffs announced Saturday by the Trump administration of 25% on goods from Canada and Mexico as well as an additional 10% on products from China are expected to have a profound impact on the global automotive industry.

President Donald Trump signaled plans to impose previously threatened tariffs of as a much as 25% on Mexico and Canada by Feb. 1, reiterating his contention that America’s closest neighbors and largest trading partners are letting undocumented migrants and drugs flood into the US.