Trump sends letters to key trading partners announcing steep tariffs
US President Donald Trump has sent letters to several countries dictating new tariffs that will be implemented on August 1. France's poverty rate has surged to its highest level on record. Plus, one of the world's largest Legolands has opened its doors to tourists in Shanghai.
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LeMonde
5 hours ago
- LeMonde
Macron calls on EU to 'defend European interests' in US tariff talks
French President Emmanuel Macron on Saturday, July 12, condemned US President Donald Trump's threat to impose 30% tariffs on the European Union, calling on the bloc to "resolutely defend European interests." US President Donald Trump on Saturday warned that Mexico and the EU would be slapped with 30% tariffs starting on August 1, raising the stakes in already tense negotiations with two of the largest US trading partners. Expressing France's "very strong disapproval" of the announcement, Macron called on the bloc to "step up the preparation of credible countermeasures by mobilizing all instruments at its disposal" if the two sides failed to reach an agreement by August 1. "France fully supports the European Commission in the negotiation that will intensify to reach a mutually acceptable agreement by August 1, so that it reflects the respect that trade partners such as the European Union and the United States owe each other," he wrote on social media. Earlier Saturday, European Commission chief Ursula von der Leyen hit out at the new tariffs threatened by Trump, but said the EU still sought a deal to avert the measures. 'Unfair deal' Meanwhile, Mexico slammed Trump's latest tariff threat as an "unfair deal," according to a government statement. "We mentioned at the table that it was an unfair deal and that we did not agree," the Mexican economy and foreign ministries said in a joint statement. Mexico is already in negotiations seeking an alternative to tariffs that would protect businesses and jobs on both sides of the border, the ministries added, saying they hope to avoid the duties. President Claudia Sheinbaum, whom Trump often refers to favorably, expressed confidence Saturday that a deal would be reached. "We are going to reach an agreement with the US government," Sheinbaum said during a public event hours after Trump's social media post announcing the elevated tariffs. She said the talks in Washington would allow Mexico to be in a "better position" by August 1.
LeMonde
8 hours ago
- LeMonde
How Trump adapts his tariff threats for economic, diplomatic and ideological ends
Donald Trump added the European Union to his list of countries facing the threat of new customs duties on Saturday, July 12. In a message posted on Truth Social, his private social network which has become the primary communication channel for the White House, the US president stated that products imported from the European Union would be subject to a 30% surcharge if no agreement is reached that meets his expectations – specifically, a "complete open" European market for American goods. On July 7, Trump acknowledged that his commercial threats had yet to yield results and, by executive order, postponed the deadline for implementing the unilateral tariff increases – originally announced on April 2 and already delayed once – to August 1. These repeated delays have earned the US president an unflattering acronym: TACO, for Trump Always Chickens Out. Markets, for their part, were largely unmoved when the White House occupant again brandished the threat of tariff hikes in letters sent to major US trading partners, including South Korea and Japan, on July 8. After Canada on July 10, Mexico was the next recipient of these messages posted on Truth Social on Saturday. While the United States' northern neighbor was threatened with a 35% increase in import taxes, a 30% hike was directed at its southern partner. In both cases, the president mixed often questionable economic arguments with considerations unrelated to trade.
Euronews
10 hours ago
- Euronews
US announces new 30% tariff rate, EU ready to 'safeguard EU interests'
US President Donald Trump intends to raise tariffs on European products to 30% starting 1 August, he wrote in a letter addressed to European Commission President Ursula von der Leyen posted on his social media platform Truth Social. He added that this rate could increase further if the European Union decided to retaliate, stating that the number is "far less than what is needed to eliminate the Trade Deficit disparity." The European Commission responded with a written statement, saying "we remain ready to continue working towards an agreement by August 1," adding that "at the same time, we will take all necessary steps to safeguard EU interests, including the adoption of proportionate countermeasures if required." "Goods transshipped to evade a higher Tariff" will also face a higher rate, he added. He also said in the letter that the US trade deficit was a national security threat. 'We have had years to discuss our Trading Relationship with The European Union, and we have concluded we must move away from these long-term, large, and persistent, Trade Deficits, engendered by your Tariff, and Non-Tariff, Policies, and Trade Barriers,' Trump wrote. 'Our relationship has been, unfortunately, far from Reciprocal.' He said that approvals to "build or manufacture" products within the US would occur "within a matter of weeks," adding that European companies who decided to do so would not face no tariffs. The announcement follows months of negotiations between the EU and US, and as the pause on Trump's so-called 20% "reciprocal tariffs" nears its end on 1 August. Trump is in the midst of an announcement blitz of new tariffs with allies and foes alike, a bedrock of his 2024 campaign that he said would set the foundation for reviving a US economy that he claims has been ripped off by other nations for decades. His administration has started to send out letters to trading partners, notifying them of the duties that will be applied to their US exports. With Saturday's letters, Trump has now issued tariff conditions on 24 countries and the 27-member European Union.
