On August 1, 2025, US President Donald Trump plans to introduce new trade tariffs of 30 percent on imports from the European Union (EU) and Mexico. This drastic measure is understood as an attempt to eliminate trade imbalances and strengthen the US economy.
Trump’s Announcement on “Truth Social”
The surprising announcement came via Trump’s own platform “Truth Social”, symbolizing a clear escalation in trade talks with the EU. In early April, Trump had originally announced tariffs of 20 percent, but their implementation was postponed. With the now announced increase to 30 percent, the trade strategy takes on new dynamics.
Negotiations and Strategic Measures
For weeks, the EU has been involved in intensive negotiations with the US to create a viable trade framework. A draft paper is already available, but Trump’s recent announcement, also communicated through a letter to EU Commission President Ursula von der Leyen, puts the parties under pressure.
Potential Impacts of Tariff Policy
- Price Increases: Products from the EU will become noticeably more expensive for American consumers.
- Trade Relations: The increased tariffs could further strain the already tense relations between the US and the EU and lead to countermeasures from the EU.
- Investors & Savers: Higher import costs could negatively impact companies with transatlantic relationships, potentially leading to volatility in the stock markets.
This tariff policy is another example of Trump’s protectionist strategy to secure the US economy against its global trading partners.